Ripple Labs Inc. and its CEO Brad Garlinghouse have been served with another lawsuit, according to court documents signed last week. This is the third lawsuit that has ended up at the Blockchain company’s doorstep this year. Earlier in June, the Ripple had landed in legal deep waters after a class action suit was filed against it. The lawsuit claimed that XRP, the company’s native digital tokens, were securities.Source
According to TNW, the new lawsuit against the crypto company and Brad Garlinghouse was filed on June 27th by a private XRP investor. It alleges that the company and its CEO have “promoted, sold and solicited the sale of XRP.” The lawsuit claims that Garlinghouse and Ripple Labs Inc. combined the token with the trademarked Ripple technology. Moreover, it claims that they have illegally benefited from the increase in price the entire time.
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Ripple (XRP) to start trading on Australian crypto exchange, Independent Reserve
