Ripple will have to defend itself in a long-running class-action lawsuit over claims it violated securities laws in selling unregistered securities. In the lawsuit, XRP buyers allege that they lost a substantial amount of money on relying on fraudulent promotional statements issued by Ripple that encouraged them to sell their XRP Tokens.
The class-action lawsuit takes Ripple into a task for selling unregistered securities in total disregard of security laws in the US. A US District Court has since ruled that the class-action lawsuit can proceed, be it with some caveats.
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