Against the blockchain startup Ripple put forward a new claim: another investor accuses the company to trade unregistered securities.
The investor of Sakinaw Vladi (Vladi Zakinov) filed a lawsuit against Ripple Labs and XRP II — subsidiaries of the company which is a licensed financial services provider and is engaged in the sale of a token, the CEO of a startup Garlinghouse brad (Brad Garlinghouse) and another 25 persons, whose names were not called. The petition was filed in the Supreme Court of California, County of San MATEO.
In particular, the charges Socinova are based on the fact that the token XRP is a security controlled Ripple. According to information contained in the document, which was released online, the investor bought tokens XRP in January of this year, “causing hurt”.
“Despite the fact that XRP is called a token, in fact, California law it is a valuable paper. In particular: (1) Ripple uses the funds received for the sale of XRP to Finance their companies with venture capital; (2) the company indiscriminately offers XRP for sale to the General public; (3) the plaintiff and the remaining plaintiffs — essentially powerless in terms of control over the success of Ripple and XRP; and (4) investments of plaintiff and the other plaintiffs groups significantly at risk and have no protection,”— these are the arguments that leads Sakinaw.
The paper also argues that Ripple and these defendants “had to register XRP, offering or selling them”, but they didn’t. Moreover, from the point of view Zakirova, the defendants “made a series of improper statements that contributed to the growth rate XRP”, which helped Ripple to higher revenues from the sale of the token.
However, according to the plaintiff, investors lost money and in the future continue to do so: the owners of XRP can not control Ripple.
Note, the press Secretary of the startup, has strongly rejected the allegations.
“This is just another example of extortion, to make an opportunistic claim is completely unfounded. We are absolutely confident that the claims against XRP is completely unfounded from a legal point of view, and in fact”, — said the representative of cryptostroma.
From lawyers Zakirova comments have yet been received.
We will remind, some days ago it became known that in civil proceedings in a similar lawsuit, filed in may, the interests of the Ripple will be represented former Chairman and head of Supervisory division of the securities and exchange Commission (SEC). Currently the case is still pending.
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