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After ‘Meaningful’ Victory, Ripple Will Likely Issue Motion to Dismiss XRP Class-Action Lawsuit, Says Securities Lawyer

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A lawyer who focuses on litigation involving securities at the firm Kobre & Kim just issued a big update on the class-action lawsuit against Ripple, which alleges the company violated state and federal laws by selling XRP as an unregistered security.

 

https://dailyhodl.com/2019/03/22/after-meaningful-victory-ripple-will-likely-issue-motion-to-dismiss-xrp-class-action-lawsuit-says-securities-lawyer/

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AS small as this lawsuit is in intiall  filing. This was filed for special interest groups. No fi will commit signifacantly  with this unresolved

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8 minutes ago, elias said:

Why is Stellar/XLM not affected by these legal issues?

From their web site:—

Quote

SDF — also known as Stellar.org — was incorporated in 2014 as a non-stock nonprofit corporation in the U.S. State of Delaware. SDF has no stock, no profits given to individuals, and no private inurement.

 

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2 hours ago, Longjohn said:

AS small as this lawsuit is in intiall  filing. This was filed for special interest groups. No fi will commit signifacantly  with this unresolved

 

It will be a moot point once the token taxonomy act is passed.  And it will pass this year.  

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Posted (edited)
3 hours ago, tev said:

From their web site:—

 

This fundamentally says nothing about XLM's status as a security. 

If anything, it exposes the SDF to an additional charge of illegally issuing a "security." 

Edited by HenrySeldom

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5 hours ago, HenrySeldom said:

This fundamentally says nothing about XLM's status as a security. 

If anything, it exposes the SDF to an additional charge of illegally issuing a "security." 

Why do you think there are no court cases for the SDF?

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TLDR — key takeaway from article:

”Unless Ripple wins a motion to dismiss, discovery will go on for a long time. In class actions, discovery usually takes more than a year to complete.”

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