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Ripple’s Series C lead investor Tetragon sues company in wake of SEC charges


JA8
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https://www.theblockcrypto.com/post/90135/ripple-series-c-lead-investor-tetragon-sues-the-company

 

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Tetragon Financial Group, the lead investor of Ripple's $200 million Series C, has sued the company after a recent complaint by the U.S. Securities and Exchange Commission (SEC), according to a report by Bloomberg.

 

Edited by JA8
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But by the same token that ripple should have apparently just "known" that they were breaking the SEC's rules around securities, or laws, the same argument could be said for Tetragon... Their due diligence would have uncovered ripple selling XRP, they should also file a suit with the SEC for damages, or they should have been more.risk averse in the first place! Unlikely they knew nothing about XRP, that's beyond comprehension. @Pablo <-hopefully the man can input :-)

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Yeah you can't stop people from filing baseless lawsuits can you?

Look at how many Trump has filed with zero succsess.

This is FUD, so what is your problem?

 

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Tetragon filed suit in Delaware under seal. So we do not know what the contract was/is. All we can do is either say Ripple is bad stupid and messed up scam or Tetragon is trying to get its money back because it took to large of a risk an is scared. From there portfolio out of the 2.3 billion in assets they maintain around 4% cash.

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Just now, Danny said:

Remarkable. Tetragon, based in the UK, cites SEC’s finding that XRP is a security. The Financial Conduct Authority (FCA), also residing in the UK, confirmed XRP is not a security.

I know, it seems ridiculous when Ripple's legal case hasn't even gone through discovery stage. Seems like a spiteful move - totally misguided. As for freezing assets, jeez come on. I can't see any realistic chance of that, but what do I know I'm not a lawyer. 

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Tetragon filed its complaint on Monday in Delaware Chancery Court, seeking to "enforce its contractual right to require Ripple to redeem" Series C preferred stock, per the report.

Tetragon also wants to block Ripple from using any cash or other liquid assets until the payment is made. The company has asked the court for a temporary restraining order, a preliminary injunction, and an expedited trial.

I mean...did they not perform due diligence on the company before sinking their money into it?

Tetragon: "Well yea, but we changed our minds. Now give us our money back right MEOWWWW."

Same FUD the SEC has been slow walking: letting exchanges trade XRP, letting businesses like MoneyGram use it, letting retail investors buy it...wait 7-8 years, but oh wait, now we changed our minds, sorry y'all can't do that now. Hur-durrrrp-a-derp...

~~~~~~~~~~~~~~~~~~~~~~~~

Either Garlinghouse and gang are THE slyest smooth-talking operators ever to walk the earth; two-timing SEC regulators after working with them from jump, fooling hundreds of CEOs, lawyers, professional investors, convincing ten's of thousands to invest in them then giving everyone the Madoff shaft after building international payment rails for years...

....OR....

Something else is afoot. Something fishy though.

I'm still keeping my XRP though, sheeeeate. Even if Ripple went under, which it won't, XRP will still be around.

Ivan Drago: "If it dies, it dies...."

Edited by jetbrzzz
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19 minutes ago, jetbrzzz said:

Ich meine ... haben sie das Unternehmen nicht einer Due Diligence unterzogen, bevor sie ihr Geld in das Unternehmen gesteckt haben?

Tetragon: Nun ja, aber wir haben es uns anders überlegt. Jetzt gib uns unser Geld zurück, MEOWWWW.

Dieselbe FUD, die die SEC nur langsam durchlaufen hat: Börsen XRP handeln lassen, Unternehmen wie MoneyGram nutzen lassen, Privatanleger kaufen lassen ... 7-8 Jahre warten, aber oh warte, jetzt haben wir unsere Meinung geändert, sorry, das können wir Mach das jetzt nicht. Hur-durrrrp-a-derp ...

~~~~~~~~~~~~~~~~~~~~~~~~~~

Entweder Garlinghouse oder Gang sind DIE schlauesten Redner, die jemals auf der Erde gelebt haben. Zwei-Timing-SEC-Regulierungsbehörden, nachdem sie von Anfang an mit ihnen zusammengearbeitet hatten, Hunderte von CEOs, Anwälten und professionellen Investoren zum Narren gehalten, Zehntausende davon überzeugt hatten, in sie zu investieren, und dann allen den Madoff-Schacht gaben, nachdem sie jahrelang internationale Zahlungsschienen gebaut hatten ...

....ODER....

Etwas anderes ist im Gange. Etwas faul.

Ich behalte mein XRP trotzdem, meine Güte. Selbst wenn Ripple unterging, was nicht der Fall ist, wird XRP immer noch verfügbar sein.

Ivan Drago: "Wenn es stirbt, stirbt es ..."

Maybe Ripple is the American wirecard

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