XRP Lawsuit News: The global cryptocurrency industry eagerly awaits the infamous Hinman Speech-linked documents and public release of email. In the meantime, Pro
Also Read: US SEC Replaces Introductory Disclaimer; Another win for Ripple?
New twist in the XRP lawsuit?
Attorney Jeremy Hogan shared a court filing from the Slack Technologies v. Pirani case filed in the US Supreme Court. In this case, Slack argues that the term “such security” refers to a security issued as a result of an allegedly misleading registration statement. On the other hand, Pirani claims that the term could encompass a security that was not registered on the basis of an allegedly misleading registration statement.
Pro-XRP advocate Hogan mentioned that this case is similar to Ripple’s XRP in the secondary market when the token was sold as an investment contract. He added that outside of the terms of the original “contract,” XRP does not retain “securities” status.
According to the court filing, Section 11 of the 1993 Act requires the plaintiff to prove that he/she has purchased securities registered on the basis of a substantially misleading registration statement. However, the attorney for Pro District Judge’s order could also consider appealing the case involving the secondary sales. For more news on XRP lawsuits, click here…
The XRP lawsuit has yet to receive a summary judgment. However, the court’s most recent judgments were in favor of the defendants. The growing enthusiasm of the XRP community is directly reflected in the large price surge of XRP.
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Ashish believes in decentralization and has a keen interest in advancing blockchain technology, the cryptocurrency ecosystem, and NFTs. His goal is to create awareness of the growing crypto industry through his writings and analysis. When he’s not writing, he’s playing video games, watching a thriller, or exercising outdoors. Reach me at [email protected]
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