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Tetragon Sues Ripple For Stock Redemption After SEC Pursues Ripple
Summary: Ripple's situation is getting worse, the major investor in Ripple's $200 million Series C funding, Tetragon Financial Group Ltd., with total assets of nearly $2.32 billion, has filed a lawsuit against Ripple in the Delaware court in the United States, as reported by Bloomberg. Tetragon requested "enforce its contractual right to require Ripple to redeem" Series ...
Ripple's situation is getting worse, the major investor in Ripple's $200 million Series C funding, Tetragon Financial Group Ltd., with total assets of nearly $2.32 billion, has filed a lawsuit against Ripple in the Delaware court in the United States, as reported by Bloomberg.
Tetragon requested "enforce its contractual right to require Ripple to redeem" Series C preferred stock held by Tetragon, and prohibited Ripple from using any cash or other current assets before it made payment. Tetragon also asked the court to issue a temporary restraining order, a preliminary injunction, and an expedited trial.
By Mary Liu
Tags: Lawsuit,Ripple,SEC,Tetragon
Link: Tetragon Sues Ripple For Stock Redemption After SEC Pursues Ripple [Copy]
