Don’t Trim Ripple Suit, Investors Urge Calif. Judge

Law360 (July 9, 2020, 11:24 PM EDT) — Purchasers of the digital currency XRP who claim it’s an unregistered security on Wednesday urged a California federal judge to let their full suit go forward against the currency’s maker Ripple Labs Inc., saying they’d clearly explained in their complaint why they contend that the company lied.

In a July 8 brief opposing Ripple’s partial dismissal bid, lead plaintiff Bradley Sostack told U.S. District Judge Phyllis J. Hamilton that the latest version of his complaint cited more than a dozen allegedly false or misleading statements, “particularly pleading who made them, when they were made, and where.”

“Critically, the [consolidated first amended…

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