Disgruntled Investor Appeals to U.S. SEC Guidelines in Class Action Suit Against Ripple
XRP investor Bradley Sostack has amended a class action suit against Ripple, in which he alleges that the company misled investors and proceeded to sell XRP as an unregistered security, in violation of federal law.
Sostack submitted his latest filing on Aug. 5 to a United States district court in California. According to a report by CoinDesk on Aug. 13, the original class action suit was filed about a year ago, but had yet to gain traction as a class action suit. However, Ripple now must reportedly respond to this latest action by some time in mid-September.
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