Ripple has come under a lot of scrutiny over the years. One of the more pressing problems is the lawsuit by R3 claiming how XRP was sold as unregistered securities.
It now appears that this lawsuit has been dismissed in full.
A Legal Win for Ripple
In the lawsuit, R3 claims how Ripple sold unregistered securities.
Moreover, Cooperative Entertainment Inc. claimed Ripple has infringed on some patents.
This court-based tug-of-war has been going on for some time now.
Earlier in 2020 Ripple seemed to have the lawsuit dismissed altogether.
It was then up to Cooperative Entertainment Inc to amend the complaint, to which the other party failed to respond.
Because of this approach, the motion to dismiss the lawsuit was rendered moot in early February.
For some reason, Cooperative Entertainment Inc filed for a dismissal themselves two days later.
In most cases, this indicates that a settlement has been reached between all parties.
At the time of writing, no settlement has been made public.
Due to the nature of this voluntary dismissal, the same lawsuit cannot be brought to court again.
All in all, this is good news for Ripple, but the company isn’t out of the woods just yet.
The ongoing legal battle versus Zakinov is still ongoing, albeit it may be dismissed at a later date.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]