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Little-Known Company Files New Lawsuit Over Ripple’s $1.1B XRP Sale

Roland James

Summary: A relatively unknown Puerto Rico-based company has filed a lawsuit against Ripple, accusing the firm of running an unregistered securities sale of the XRP cryptocurrency. Bitcoin Manipulation Abatement (BMA) filed the lawsuit on Friday in San Francisco, claiming both Ripple and its CEO, Brad Garlinghouse, publicly promoted the sale to investors in an attempt to ...

A relatively unknown Puerto Rico-based company has filed a lawsuit against Ripple, accusing the firm of running an unregistered securities sale of the XRP cryptocurrency.

Bitcoin Manipulation Abatement (BMA) filed the lawsuit on Friday in San Francisco, claiming both Ripple and its CEO, Brad Garlinghouse, publicly promoted the sale to investors in an attempt to drive up demand and maximize profits, without registering the sale with the relevant regulator. It also says that the company meant to mislead investors with false announcements to "artificially inflate the price at which they can sell XRP."

By Roland James

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Link: Little-Known Company Files New Lawsuit Over Ripple’s $1.1B XRP Sale   [Copy]
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