Post by: newshunter on April 30, 2021, 01:00:55 AM
Quantstamp, Status Research, Civic Technologies, HDR Global Trading and Kaydex are off the hook, after five securities related lawsuits were dismissed in New York Courts earlier this week.
Source: Five proposed crypto class actions over unregistered securities dismissed in NY (https://cointelegraph.com/news/five-proposed-crypto-class-actions-in-ny-over-unregistered-securities-dismissed)
Would appreciate your opinion about this
Post by: Fenix on April 30, 2021, 06:36:32 AM
Post by: TomPluz on April 30, 2021, 09:31:58 AM
I wonder if this decision will in any way affect the SEC lawsuit against Ripple Labs? True, there is a slightly different subject of controversy. It does not consider damage caused by the same actions to investors, but only damage caused to the state. Also in these cases, the court, as far as I understand, did not consider the question of whether the defendants' cryptocurrency belongs to the category of securities.
In some ways, it can and may affect the outcome of the SEC case versus Ripple's XRP. Right now, more and more people are already foreseeing what can the final result with this very popular case against XRP. Soon, it will be dismissed or if the SEC can be more enterprising they can offer a compromise with some money involved - business as usual, actually.