4/15/2023 0 Comments Ripple tetragon![]() ![]() It is not offered or intended to be used as legal, tax, investment, financial, or other advice. SBI Holdings, a Japanese financial company that was already in a joint venture with Ripple at the time (namely. This article is provided for informational purposes only. Tetragon was among the leading investors in Ripple’s Series C round back in 2019. The courts will provide this clarity and we are very confident in our position.” We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. ![]() Since there has been no such determination, this lawsuit has no merit. “In Ripple’s Series C investment agreement, there is a provision that if XRP is deemed to be a security on a go forward basis, then Tetragon has the option of having Ripple redeem their Ripple equity. ![]() The company has asked the court for a temporary restraining order, a preliminary injunction, and an expedited trial.įollowing the publication of this report, Ripple addressed the legal filing in a statement posted to its website, stating: Tetragon also wants to block Ripple from using any cash or other liquid assets until the payment is made. Tetragon filed its complaint on Monday in Delaware Chancery Court, seeking to "enforce its contractual right to require Ripple to redeem" Series C preferred stock, per the report. Securities and Exchange Commission (SEC), according to a report by Bloomberg. However, Ripple refuted the claims, arguing that the lawsuit had no merit as the SEC ruling had not conclusively placed XRP as a security. Tetragon Financial Group, the lead investor of Ripple's $200 million Series C, has sued the company after a recent complaint by the U.S. Tetragon first filed a preliminary injunction at the beginning of the month, referring to the Series C clause that obliged Ripple to redeem its equity if XRP was classified as a security. Ripple is facing yet another lawsuit, this time from one of its investors. ![]()
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