Tag Archives: bradley sostack

Blockchain startup Ripple has been engaged in a long going battle with complainants claiming XRP as a security. However, it seems that the company wants to put an end to this debate and reach a final settlement. In its latest filing on December 4, with the U.S. District Court for the Northern District of California, Ripple said that the plaintiffs suing the company over the unregistered sale of security tokens (XRP) have brought the case too late. In the filing, Ripple says that even if XRP...

Ripple Labs Inc, and its CEO Brad Garlinghouse are enmeshed in a lawsuit with Bradley Sostack who is the court-appointed plaintiff in a lawsuit that argues that Ripples monthly Escrow sales of its token constitute illegal sales of securities.The filing which was made public on Monday indicates that the new claim was made as a result of Ripples’ motion to dismiss the suit in September. Ripple is basing its argument on the statute of repose where the plaintiff didn’t file any charges within the...

Ripple is trapped in a heavy lawsuit, but the plaintiff – a customer named Bradley Sostack – has ultimately run out of time when it comes to responding to the company’s notion to dismiss, and it’s unclear where things will go from here.Where is the Ripple Suit Headed?The lawsuit stems not just from Sostack, but from several customers who seem to think that Ripple is a security and failed to appropriately register. They claim that the company has employed false advertising and that the...

Today the next chapter of a long-running and closely watched lawsuit against Ripple will happen. The plaintiff, Bradley Sostack, has time until the end of this Monday to file a response to the startup’s September 20 motion to dismiss. If the case won’t be entirely dismissed, it will probably go into discovery next year.As we already reported, the main point of this dispute is the question of whether Ripple’s cryptocurrency XRP is a security or not.If it is, that means that it should have been...