Ripple Avoids XRP Question as It Moves to Dismiss Securities Lawsuit
Controversy is again mounting around the company as it tries to avoid explicit reference to XRP token’s classification.
Blockchain network Ripple has filed a motion to dismiss a lawsuit accusing the firm of selling unregistered securities.
Ripple: Securities ruling beyond scope of the court
In a court filing uploaded by Fortune on Sept. 20, lawyers representing the company against investor Bradley Sostack contested the claims.
Ripple denies this, but the case has thrown up wider concerns over the legality of Ripple’s operations regarding XRP. As Cointelegraph reported, executives have refused to acknowledge the company’s relationship to the token, despite their substantial personal holdings and con