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Who is the Plaintiff in the Alleged XRP Class Action?

The plaintiff in the alleged XRP class action is a British citizen, David L. Harrison. David Harrison filed the lawsuit on behalf of himself and others who purchased XRP tokens before January 4th, 2018. He alleges that Ripple Labs Inc., Ripple (company) and other defendants violated various securities and commodities laws and regulations in connection with their sale of XRP to him. David claims that Ripple violated U.S. securities laws by not registering the sale of XRP as a security, despite it being an investment of money, susceptible to being converted into a traditional security interest at any time, with an expectation of profit from the investment or from use or resale of the token The plaintiff in the alleged Ripple class action is a shareholder in Ripple. The plaintiffs of this lawsuit are shareholders in the company, and they allege that the company has violated Securities Exchange Act of 1934. The lawsuit is filed against Ripple and XRP II (Ripple’s main holding company). The suit alleges that the defendants violated anti-trust, violated California’s Unfair Competition Law, and engaged in false advertising. read more

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