- Judge Phyllis Hamilton dismissed all class action claims against Ripple, confirming no securities law breaches.
- Ripple CEO reaffirms XRP is not a security, aligning with a prior New York District Court decision.
- Only one legal claim remains against Ripple, concerning a 2017 statement by CEO Garlinghouse, pending jury trial.
Ripple CEO Brad Garlinghouse recently addressed misunderstandings related to a California court ruling, stressing the decision as a significant victory for XRP. He highlighted errors in crypto media portrayals of the case, correcting factually incorrect reports about the court’s conclusions.
Garlinghouse emphasized that Judge Phyllis Hamilton dismissed all class action claims against Ripple, confirming that the company did not breach securities laws in its dealings with XRP.
Further Clarifications on XRP’s Legal Standing
Moreover, the Ripple CEO reinforced the distinction that XRP is not a security by itself, a determination previously made by a New York District Court. This clarification comes as Garlinghouse prepares to address allegations from a 2017 statement he made, which is slated for trial under a state law claim.
He reiterated his commitment to standing by his words, despite accusations of issuing misleading statements.
Additionally, Ripple’s Chief Legal Officer Stuart Alderoty confirmed the ongoing validity of the non-security status of XRP, further supported by Judge Hamilton’s ruling. Only one claim remains, related to Garlinghouse’s comments from 2017, which will soon be judged by a jury.
The clarity provided by Ripple’s leadership aims to settle the concerns of investors and observers about the legal challenges facing XRP. This development marks a crucial step in Ripple’s ongoing legal journey, highlighting its efforts to navigate complex regulatory environments.
