The document revealed that the court had ruled in Ripple Labs’ favor. ![]() In the original tweet, Filan attached a copy of the Order and Final Judgment from the Delaware Chancery Court. Attorney Jeremy Hogan retweeted defense lawyer James K. The filings were not immediately available at press time. Ripple Labs has emerged victorious from its lawsuit with Tetragon Financial Group. million in a Series C funding round led by closed-ended investment company Tetragon. ![]() The courts will provide this clarity and we are very confident in our position.” Ripples CEO predicts that IPOs will become more prevalent in the. We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. Ripple announced on Tuesday that it has bought back the shares from the investors who financed its 200 million Series C round in December of 2019. “Since there has been no such determination, this lawsuit has no merit. In a legal filing shared with CoinDesk the fintech said Tetragon can only opt to flip its Ripple equity back to cash “if XRP is deemed to be a security on a go forward basis.” Tetragon which is a U.K. Last Monday night, Tetragon filed a lawsuit against Ripple sighting the potential damage Ripple could cause if found that Ripple’s XRP is security and not a coin. In the meantime, Tetragon wants the court to essentially freeze Ripple’s liquid assets until it pays. Ripple is not pulling back at all as they responded to the lawsuit been filed against by one of its crucial stakeholders with heavy hands. Tetragon seeks to “enforce its contractual right to require Ripple to redeem” Series C preferred stock, Bloomberg reported. Related: Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day That’s spooked the XRP markets and now, apparently, Ripple investors, too. Ripple also holds as many as 55 billion XRP tokens, for which there has long been a liquid market, and which is still worth as much as 10-15 billion dollars today (approximately the same value as when Tetragon invested) the Stockholders’ Agreement requires Ripple to use its XRP to fund the payment of the redemption price. Securities and Exchange Commission put Ripple’s future in doubt with a blockbuster suit alleging XRP to be an unregistered security.
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