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Ripple Avoids Securities Question in Motion to Dismiss XRP Lawsuit

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Ripple has filed a motion to dismiss a lawsuit claiming it violated U.S. securities laws by selling XRP.

In a new filing posted early Friday, attorneys for Ripple pushed back on allegations made by XRP purchasers suing the company, its subsidiaries and executives. Notably, the motion to dismiss specifically claims that the plaintiff, Bradley Sostack, does not have standing to file a complaint, rather than address claims that XRP is a security.

In the motion to dismiss, Ripple states that the plaintiff failed to bring a case within three years of the initial offering (which would have been 2013), ...

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