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LeonidasH

New York securities lawsuit against Ripple moved to California

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Posted (edited)

Ripple is screwed....California is so backwards-thinking these days, thanks to their politicians. How far does liberalism and Democrat corruption extend into the legal system over there? Hopefully, some parts of California are not as corrupt as others. 

Edited by enrique11

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It is not good for Ripple as California has more laws that benefit the consumer. An example are the lemon laws for auto-mobiles. That said please don't forget that both Republicans and Democrats are corrupt and that at this time it depends on the type of corruption that is in ones perceived best interests that sways opinions. The best option is for the people to not put up with corruption itself.

As far as California as a State the eastern section of California is at its core republican while the western side is democratic. There have been attempts although possibly futile to divide California into two or three separate states so that people have better representation within their governments.

All in all the lawsuit will most likely be, if Ripple is convicted, based on the position of the company and the cryptocurrency market at the time of the incident and may very well have little affect with Ripple and XRP moving forward since as mentioned in previous post by the OP that banks can hold custody of D.A. and we also have a pro-crypto person moving into the SEC.

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I’m not a lawyer, but I find it very unlikely that this is a bad thing.  It’s ripple’s home turf for one. Second, it’s being moved to a state that’s filled with tech companies and I suspect courts will lean heavily towards judgements that favor the companies that bring billions of dollars and millions of jobs to the state. 

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Posted (edited)
On 7/29/2020 at 8:12 PM, Gorgalosk said:

I’m not a lawyer, but I find it very unlikely that this is a bad thing.  It’s ripple’s home turf for one. Second, it’s being moved to a state that’s filled with tech companies and I suspect courts will lean heavily towards judgements that favor the companies that bring billions of dollars and millions of jobs to the state. 

A lot of companies are leaving and have left California:

https://www.southstarcommunities.com/blog/companies-leave-california-bound-for-texas

California is ranked 48th out of 50 in terms of states with the best business tax climate:

https://taxfoundation.org/publications/state-business-tax-climate-index/

California consistently ranks as one of the worst states for frivolous lawsuits, and some of these lawsuits are so dumb, yet the lawsuits succeed!:

https://www.instituteforlegalreform.com/states

...and here's the "icing on the cake": https://www.thecentersquare.com/california/report-california-most-regulated-state-in-the-u-s/article_d70b9f9e-41f2-11ea-aabb-434333bd0e6d.html

 

 

Edited by enrique11
correct duplicate link

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2 hours ago, enrique11 said:

A lot of companies are leaving and have left California:

https://www.southstarcommunities.com/blog/companies-leave-california-bound-for-texas

California is ranked 48th out of 50 in terms of states with the best business tax climate:

https://www.southstarcommunities.com/blog/companies-leave-california-bound-for-texas

California consistently ranks as one of the worst states for frivolous lawsuits, and some of these lawsuits are so dumb, yet the lawsuits succeed!:

https://www.instituteforlegalreform.com/states

...and here's the "icing on the cake": https://www.thecentersquare.com/california/report-california-most-regulated-state-in-the-u-s/article_d70b9f9e-41f2-11ea-aabb-434333bd0e6d.html

 

 

Interesting. I appreciate the share as well as taking the time to source.

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