Florida Class Action Lawsuit Alleges Ripple Violated Securities Laws
Labs, a company behind the Ripple payment protocol and XRP-based products, is facing another lawsuit alleging that the firm violated securities laws in the United States. According to a court filing on January 25, Florida-based XRP investor Tyler Toomey filed a civil lawsuit against Ripple Labs and Ripple CEO Brad Garlinghouse. The lawsuit alleges that the defendants failed to comply with Florida securities laws by failing to register with the Florida Office of Financial Regulation.
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