Skip to content
Subscriber Only

Ripple Can’t Escape XRP Lawsuit It Says Could Topple Market

  • Federal judge lets case proceed with claims mostly intact
  • Investors accused company of selling unregistered securities
A Cryptocurrency Mining Rig at Open Computing Pte Director Wilson Josup's Office
Photographer: We Leng Tay/Bloomberg
Updated on
From

Ripple Labs Inc. failed to persuade a judge to throw out a proposed class-action lawsuit that the blockchain payment services provider said could topple the market for XRP, the world’s third-largest virtual currency.

A federal judge in Oakland, California, on Wednesday somewhat narrowed the claims against Ripple but left largely intact a complaint by investors accusing the company of selling unregistered securities.