Ripple Faces Lawsuit for Securities Violations From Angry Investor
The investers who lost money in his investment is now suing Ripple for damages.
User father_mucker jokingly asked, “Can I sue them as well for not mooning already?”
“If loss of investment caused by FOMO is a legitimate case, then I guess all the people from December should start lining up with their lawyers for a payout,” wrote user Kenjiquest.
Coffey insists that XRP is a security because “purchasers reasonably expected to derive profits from their ownership” of it. While, Coffey is feeling wronged by Ripple and it’s likely that the SEC would have already acted against such a high-profile company by now if it thought it was violating any laws.