Ripple Sued Over US Securities Law Violations

Home / Ripple Sued Over US Securities Law Violations

An American law firm announced that it filed a class action lawsuit against Ripple, stating that the sale of XRP violates US securities law. The complaint claims that an individual trader, Ryan Coffey, suffered a loss of $551.89, which is 32%, when carrying out sell/but transactions with XRP. As per the lawsuit, Coffey did not expect to lose money on the investment. Interesting, as losing money is a large part of trading in crypto sector and most people accept this fact, understanding the risks, but the plaintiff didn’t think that losing money would be an outcome, due to Ripple’s promotional practices. 

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