Additionally, Garlinghouse’s motion noted that while the SEC alleges that some transactions were made in the US, it has no proof to support its claims. However, the duo’s defense team argued that most of their transactions were mostly foreign. At the time, the regulator claimed that Garlinghouse and Larsen aided and abetted Ripple’s illegal sale of XRP. Reportedly, the judge ruled that the disclosure of the personal financial records of the two officials was irrelevant in determining whether XRP is a security or not.įollowing this development, the two officials filed two motions to dismiss charges that the SEC filed against them in December last year. On April 11, Judge Sarah Netburn dismissed the SEC’s requests to access the financial records of the two executives. With Ripple heaving a sigh of relief after winning the case against Tetragon, the firm’s CEO Brad Garlinghouse, and its co-founder, Chris Larsen, are also enjoying tiny, but important victories against the SEC. Ripple executives file motions to dismiss charges against them Tetragon’s case was based on the fact that the US SEC had filed another lawsuit against Ripple and two of its executives, alleging the unregistered sale of XRP tokens. Reportedly, the UK-based company led Ripple’s Series C funding round. This news comes after Tetragon filed a lawsuit against Ripple, trying to reclaim part of its £145.78 million investment in the company. The unpaid amount will be compounded quarterly, starting from the day of the order until Ripple gets the entire sum.
Tetragon ripple full#
If the company fails to pay the full amount before the five-day window expires, the court directed that Tetragon must pay Ripple post-judgment interest at a legal rate of 5% per annum over the Federal Reserve discount rate.
#Ripple, attached is the Order and Final Judgment entered in favor of Ripple Labs and against Plaintiff Tetragon Financial Group in the suit in Delaware Chancery Court.
#XRPCommunity While we are waiting for the Individuals' Motions to Dismiss in #SEC v.
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