![]() Tetragon's attorney claims that Ripple's attorneys are trying to misconstrue the language of the agreement to avoid paying back a gargantuan amount of USD to the U.K.-based investment giant. ![]() This was during a Series-C funding effort that was led by Tetragon and pushed Ripple to its decacorn status -when its valuation exceeded the $10 billion mark. Tetragon signed the agreement when it invested an amount close to $180 million in late 2019. Zurn of the Delaware Chancery Court that Ripple Labs representatives are "playing word games" in court and are improperly twisting the wording of the shareholders' agreement. Shuster from Holwell Shuster & Goldberg LLP, has told Vice Chancellor Morgan T. Tetragon accuses Ripple of misconstruing wording of shareholders' agreement Lawyers of both the executives have put forward motions for dismissal of the case saying that almost all of XRP transactions by the company were foreign and the SEC has failed to provide the data of even one such transaction out of the US.In particular, Ripple lawyers are allegedly misstating the terms of a 2019 agreement for shareholders, based on which Tetragon is demanding in court that all of Ripple's financial transactions are to be halted until the DLT company pays back Tetragon's investment of $175 million. This has been a very unorthodox move by the Securities and Exchange Commission (SEC) to make these two executives of the company defendants alleging that they aided and abetted the sale and transfer of XRP tokens. The former CEO of Ripple Chris Larsen, and the current CEO of Ripple Brad Garlinghouse, both have filed separate motions to dismiss the frivolous lawsuit concocted by the Securities and Exchange Commission (SEC) of the United States against them in December 2020. Garlinghouse and Chris Larsen Are Filing Motions For the Dismissal Of Lawsuit Securities and Exchange Commission (SEC). ![]() The Tetragon Financial Group had been leading the funding round of mammoth series C by Ripple in 2019 but they turned on the company as soon as it got sued by the Securities and Exchange Commission of the United States in December 2020. Attorney and XRP supporter John Deaton is optimistic that Coinbase will prevail in its lawsuit against the U.S. investment company, after a ruling from the Delaware court as Ripple won the case against Tetragon Financial Group. Subsequently, Tetragon Financial Group LTD, a UK-based asset management firm, also sued Ripple and demanded to buy back its shares. ![]() Ripple, a ledger technology distributor, and provider, will be getting paid a huge amount of $3.463 million in legal fees by Tetragon Financial Group, a U.K. As reported by CNF, Ripple Labs was sued by the SEC for selling XRP as a security without registering it. The XRP token of Ripple has been gaining value and is currently being traded at a price of $1.46 while Ripple is winning their civil lawsuits on all fronts against the Securities and Exchange Commission (SEC) of the United States and Tetragon Financial group, which has eased the firm’s problems a bit. However, the tides have recently shifted in the favor of Ripple and it has been experiencing a lot of positive environment around it. Many large crypto-asset exchanges had delisted the crypto token and the company incurred a lot of financial loss during this period. For a lot of months, Ripple had been facing a lot of backlash and criticism due to its ongoing lawsuits, and the price of their native token, XRP, has also been going down for the longest time.
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