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Ripple Labs stock drops 20%+ after trial outcome?
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US Federal Court Orders Ripple Lawsuit to Trial Over Misleading Statements by Brad Garlinghouse
Jun 21, 2024, 06:43 AM
A California judge has ordered a lawsuit against Ripple Labs to proceed to trial, alleging that CEO Brad Garlinghouse violated California securities laws by making misleading statements in a 2017 interview. The lawsuit, greenlighted by a US federal court, accuses Garlinghouse of breaking state securities regulations. This development marks a significant legal challenge for Ripple Labs, a prominent player in the cryptocurrency market, with its cryptocurrency $XRP.
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