Ripple CEO's Public Statements About XRP Token Under Fire in Class-Action Lawsuit

Plaintiffs in the class action lawsuit against Ripple Labs have filed another litigation complaint against Ripple CEO Brad Garlinghouse. The news follows the recent court judgment that denied Ripple Lab’s attempt to get the case dismissed.

Plaintiffs Accuse Ripple Labs CEO of Selling XRP After Telling the Public He Was ‘Long XRP’

On March 25, the plaintiffs suing Ripple Labs filed an amended complaint with the court against the company’s CEO Brad Garlinghouse. According to the court filing, Garlinghouse told the public a few statements during interviews and on Twitter that ostensibly favor the plaintiff’s side of the argument. The document notes that the CEO told people on Twitter and in the media that he was holding and “long XRP,” but the plaintiffs believe Garlinghouse was selling the token regularly. The complaint filed on Wednesday reads: Ripple’s CEO, Brad Garlinghouse, has also been a vocal advocate for investing in XRP. In a December 14, 2017 interview with BNN, when asked if he is personally invested in XRP, the CEO stated ‘I’m long XRP, I’m very, very long XRP as a percentage of my personal balance sheet. Read More...

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