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Scott+Scott Attorneys at Law LLP Announces Investigation into Ripple Labs, Inc. and Ripple XRP Tokens

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Can someone explain what the consequences would be if XRP would be deemed a security?

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Just remember who ripple have fighting their case. Former sec chair Mary Jo White. This case will be kicked pretty quickly, and I believe if will firmly establish that xrp is not a security to the masses. Though I already think its a given already.

https://cointelegraph.com/news/former-sec-chair-represents-ripple-in-lawsuit-for-alleged-sale-of-unregistered-securities

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My understanding is that Ripple, being represented by Mary Jo White and Andrew Ceresney, have sought to elevate the civil case brought against Ripple by Ryan Coffey to Federal Courts. That presumably would be mean the outcome is over-arching in terms of state-level civil suits. 

 

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I take these lawsuits as a good thing because it can all be thrashed out in court responsibly and end the bickering (one way or the other) once and for all, or at least set a precedent going forward ; some clarity which this entire space desperatle needs

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3 hours ago, Centaurus said:

"NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether Ripple Labs, Inc. (“Ripple Labs” or the “Company”) and others violated federal securities laws in connection with the sale of Ripple’s XRP token, also known as “Ripples.” If you purchased Ripple XRP tokens, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.

What You Can Do

If you purchased Ripple XRP tokens and you wish to discuss this investigation, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com, or go to this information page: https://scott-scott.com/investigation/ripple-labs-inc/."

 

Why don't we just call this number and tell them to go to hell.

 

 

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59 minutes ago, ed1 said:

"NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether Ripple Labs, Inc. (“Ripple Labs” or the “Company”) and others violated federal securities laws in connection with the sale of Ripple’s XRP token, also known as “Ripples.” If you purchased Ripple XRP tokens, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.

What You Can Do

If you purchased Ripple XRP tokens and you wish to discuss this investigation, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com, or go to this information page: https://scott-scott.com/investigation/ripple-labs-inc/."

 

Why don't we just call this number and tell them to go to hell.

 

 

Hey, look! It’s the crypto equivalent of ambulance chasers. If I was Ripple, I would, to paraphrase Conan (the Barbarian, not O’Brien), crush them and hear the lamentations of their women. In court, of course- not with a sword.

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No surprise here, guys. A recent ruling by the U.S. Supreme Court (Cyan v. Beaver County Employees Retirement Fund) earlier this year more likely than not opened the flood gates and we will probably see an increase in the overall number of securities class action lawsuits across the county, especially in this cryptocurrency and blockchain space. One lawsuit was already filed against Ripple Labs, Inc. in California on this very issue (Ryan Coffey v. Ripple Labs, Inc. and Brad Garlinghouse), and more likely than not, there will be another lawsuit filed in the state of New York by Scott + Scott Attorneys. 

Check out my post below. Went into detail on this issue about a month ago. Ha, what interests me the most though is that in theory, one state (e.g., California) could rule that XRP is a security and one state (e.g., New York) could rule that XRP is not a security (conflicting views or rulings). All that to say, Ripple Labs, Inc. will be ready to go to court and defend their position. 

Stay tuned. 

 

 

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2 minutes ago, brjXRP17 said:

No surprise here, guys. A recent ruling by the U.S. Supreme Court (Cyan v. Beaver County Employees Retirement Fund) earlier this year more likely than not opened the flood gates and we will probably see an increase in the overall number of securities class action lawsuits across the county, especially in this cryptocurrency and blockchain space. One lawsuit was already filed against Ripple Labs, Inc. in California on this very issue (Ryan Coffey v. Ripple Labs, Inc. and Brad Garlinghouse), and more likely than not, there will be another lawsuit filed in the state of New York by Scott + Scott Attorneys. 

Check out my post below. Went into detail on this issue about a month ago. Ha, what interests me the most though is that in theory, one state (e.g., California) could rule that XRP is a security and one state (e.g., New York) could rule that XRP is not a security (conflicting views or rulings). All that to say, Ripple Labs, Inc. will be ready to go to court and defend their position. 

Stay tuned. 

 

 

https://www.law.com/therecorder/2018/06/04/ripple-labs-brings-on-former-top-sec-officials-to-help-defend-private-securities-lawsuit/

https://images.law.com/contrib/content/uploads/documents/403/16324/RippleRemoval.pdf

The Debevoise attorneys and lawyers from two California offices of Skadden, Arps, Slate, Meagher & Flom appear on court papers for Ripple on June 1, removing the suit from California state court to federal court in the Northern District of California.

TO THE CLERK OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA :

Please take notice that Defendants Ripple Labs Inc. ( “Ripple)XRP II, LLC (“XRP II), and Bradley Garlinghouse (collectively, “Defendants ” ), by and through their undersigned attorneys, hereby remove the above - captioned civil action, and  all claims and causes o f action therein, from the Superior Court of the State of California, County of San Francisco, to the United States District Court for the Northern District of California, pursuant to 28 U.S.C. § §1332(d) , 1367 , and 1453 .As required by 28 U.S.C. §1446(a), all process,pleadings, and orders served on Defendants in the action to date are attached hereto as Exhibit A.As the requisite“ short and plain statement of the grounds for removal, ” 28 U.S.C. § 1446

 

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