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


JA8
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Boy did Brad Brad, Chris, and Ripple's board mess up big time.  They clearly had no idea what they were doing all this time.  Everyone is going to try and sue Ripple, so they are not stuck being the last holder  of Ripple stock/XRP when Ripple tanks.  

Now it just comes down to which investor group gets screwed over the biggest: stock holder or XRP investors.  Ripple isn't even profitable without XRP.  So they are most likely using funds sold from XRP to fight these legal battles.  Hopefully the SEC comes and saves the day for XRP holders.  

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20 minutes ago, Live4xrp said:

 

Brad and Chris are the biggest tools.  Not only did they ignore the XRP community for years, when requesting for them to stop dumping XRP on the open market.  They proceeded forward managing XRP like a security contract, selling hundreds of millions of XRP for their personal wealth behind the scenes.  Knowing they had legal advice in the past that XRP may be deemed as a security.  All while, they agreed to clauses with their other investors that they can pull their money out if XRP is flagged as a security.

Edited by wogojump
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It does seem premature to me at least.  I would at least hear Ripple’s defense. 

If Ripple comes back from this successfully, Tetragon may regret this move. 

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2 hours ago, kbull said:

Maybe Ripple is the American wirecard

Possibly.

Quote

“Ernst & Young bear responsibility for this,” said Neil Campling, an analyst with Mirabaud who has had a price target of zero on Wirecard since March 2019. “They were defrauded like everyone else but, as auditors, they should have looked through it. It is amazing that they signed off on the 2018 account.”

EY, as the accounting firm is officially known, finally sounded the alarm last week, when they refused to sign off on Wirecard’s 2019 financial report. (The firm remains the auditor of record). That set off a cascade of events that started with Wirecard admitting it couldn’t locate billions of euros in cash, followed by the ousting and arrest of former Chief Executive Officer Markus Braun before Thursday’s insolvency filing.

Like I said, either Ripple execs are the sneakiest, trickiest fraudsters ever to do the crypto thing, fooling hundreds of people including SEC regulators, auditors, Big 4 accountants, lawyers, CEOs, retail and professional investors alike OR just maaaaybe the SEC is going on a witch hunt.

Well no no no, we can't blame the auditors now, they were fooled just like everyone else.... uh huh. Didn't stop them from signing off on fraud.

Woulda, coulda, shoulda, just like the SEC trynna "protec" all the investors who just lost multi-billions in value with their FUD lawsuit for what probably might only end up being a billion even in fines.

Point is this is all FUD.  Worse case, Ripple execs pay up for whatever they settle upon.

In the meantime, everyone FUDDin' here give all your worthless XRP to me, I'll hold on to it for ya.

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