Ripple Labs, a key player in the cryptocurrency ecosystem, confronts a significant challenge as a California court allows a civil securities lawsuit to proceed. The lawsuit alleges that Ripple’s CEO, Brad Garlinghouse, made misleading statements regarding XRP, triggering implications that could reverberate throughout the digital currency market.

Legal Landscape: California Lawsuit Against Ripple

On June 20, 2024, California District Court Judge Phyllis Hamilton ruled against Ripple’s request for summary judgment, paving the way for a jury trial to determine whether Brad Garlinghouse’s 2017 statements on XRP constituted misleading disclosures under California securities laws.&middot

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