Ripple Labs Gets Sued Again
June 12, 2018
Popular crypto startup Ripple has got a defendant again. Vladi Zakinov, another complainant investor has sued Brad Garlinghouse, CEO at Ripple Labs.
The point of the claim is to prove that Ripple is a security. The investor also tries to get his losses recovered as he bought cryptocurrency at the beginning of the year. The document also notes that Ripple had to register sales in accordance with legislation and avoid misinforming crypto users with untruthful statements.
Ripple Labs representatives deny the charge and state the suit is absolutely groundless.
Note that the lawsuit is not the first one, as last month a group of investors with Ryan Coffey at the head filed a suit because of loss of invested assets.