SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced on behalf of purchasers of Ripple Labs Inc. (“Ripple”) tokens (“XRP”) during the period between July 3, 2015 through the present (the “Class Period”). This action was filed in California Superior Court, San Mateo County, and subsequently removed to the Northern District of California. The action is captioned In re Ripple Labs Inc. Litig., Case No. 18-cv-06753.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased XRP during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the purported class, you must move the Court no later than 60 days from today. If you wish to discuss this action, receive a copy of the complaint, or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Brian O’Mara of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org.
The complaint charges Ripple, Ripple’s wholly owned subsidiary, XRP II, LLP, and certain of Ripple’s controlling senior executives and directors with violations of the Securities Act of 1933 (“Securities Act”). The complaint alleges that defendants sold unregistered securities to investors in violation of Sections 5, 12(a)(1), and 15 of the Securities Act. Defendants are liable in their capacities as issuers, statutory sellers, and/or direct or indirect offerors of XRP. Plaintiff seeks to recover damages on behalf of all purchasers of XRP during the Class Period (the “Class”).
Robbins Geller is a national law firm representing investors in securities litigation. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For five consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in both the amount recovered for shareholders and the total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also advocates for corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.