Face Archives -
While the world’s attention has been fixed on the horrific violence against the minority Rohingya Muslim population, Christians also face an ethnic cleansing campaign at the hand of the Burmese Army and associated militias.
“The face lies on a surgical tray, eyes empty and unseeing, mouth agape, as if exclaiming, ‘Oh!'” It’s a line from Joanna Connors’ National Geographic September cover story, which follows 21-year-old Katie Stubblefield as she becomes the youngest person on the planet to receive a face transplant. A photo…
Les Moonves won’t face criminal charges for a woman’s claims he sexually abused her in the late ’80s … according to the L.A. County D.A.’s office. The CBS honcho’s accused of 2 separate incidents of sexual assault — one in 1986 and one in 1988 –…
The 2 guys who took a crack at demolishing President Trump’s Hollywood Walk of Fame star came face-to-face this weekend, and some wisdom was imparted … TMZ has learned. Austin Clay — the latest Trump star vandal — met up with his predecessor,…
When European Commission President Jean-Claude Juncker left for Washington to meet with President Trump, his mission was to try to dissuade the American president from escalating trade tensions between the U.S. and EU. Then Mr. Trump started tweeting.
WSJ.com: What’s News Europe
The next time a big company, and especially a telecom company, tells lawmakers and regulators that a multibillion-dollar merger will result in lower prices for consumers, I hope everyone in the room breaks out in laughter.
At this point, it’s patently obvious that such pledges of price reductions…
A group of teens was eating at a Whataburger in San Antonio, Texas, on Tuesday when a “patriotic hat” got them some unwelcome attention. The hat in question appears, in a video posted by the mom of one of the teens, to be a red “Make America Great Again” hat….
A third lawsuit, alleging securities fraud, was filed last week against Ripple Labs Inc, XRPII LLC, and its CEO Bradley Glaringhouse. In 28 pages, the class action suit attempts to make the case XRP is a security: issued, maintained, and supported by Ripple in clear violation of US regulatory laws. Ripple has worked extremely hard to distance itself from its cryptocurrency, XRP, in hopes of avoiding just this scenario.
Ripple Labs Faces Third Securities Fraud Lawsuit
Managing partner of Robbins Arroyo LLP, Brian J. Robbins, filed a class action lawsuit against Ripple Labs Inc, XRPII LLC, and CEO Bradley Glaringhouse on behalf of San Diego college senior David Oconer. Signed by fax late June of this year in the San Mateo, California Superior Court, its more than two dozen pages set about making the case Ripple is in clear violation of the Howey Test.
Mr. Oconer, through his legal team, stresses how Ripple fought to manipulate the XRP price, including placing tens of millions XRP tokens into a kind of escrow, creating an arbitrary scarcity. It was also a way to signal to worried longer term investors the company would not dump the lot all at once. Indeed, XRP mooned to many hundreds of percent, the suit alleges, as a result of such moves.
It’s the third such lawsuit filed against the company since early May of this year. A common theme between each suit is the claim XRP is a security as defined under US regulatory statute – which insist Ripple Labs is the token’s puppet master indistinguishable from XRP itself. The Oconer version leans heavy on making a case for a Howey Test violation. Ripple isn’t taking any of the suits lightly, hiring two former US Securities and Exchange Commission heavies, Andrew Ceresney and Mary Jo White, as lead counsel.
XRP has long been held in a controversial light due in part to its origin story. While leading cryptos were to be mined on chain, ripples appeared ex nihilo with more than 60 percent still held by its parent company. If deemed a security, the company would be most likely ordered to cease all trading, and it’s not unusual to presume holders would be given the chance at refunds. Violations of securities law, what’s more, can also be prosecuted criminally, though those in the know believe it will not get to that stage.
Will these lawsuits hurt Ripple? Let us know in the comments section below.
Images via the Pixabay, Twitter.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.
Amid widespread confusion over President Trump’s executive order on border separations, a senior administration official says many of the children taken from their families have already been reunited with their parents. The official, speaking under condition of anonymity, tells the AP that around 500 of more than 2,300 children…