Law360 (June 9, 2020, 6:04 PM EDT) — Digital currency developer Ripple Labs Inc. on Monday sought to pare down the allegations it faces in a proposed securities class action in California federal court, claiming its investors failed to show how the company intentionally misled anyone about its offerings.
In its June 8 motion for partial dismissal with prejudice, the company, along with the affiliated digital asset company XRP II LLC and Ripple CEO Bradley Garlinghouse, sought to end three of the shareholder allegations it faces concerning fraud, false advertising and unfair competition in violation of California state laws.
In the motion, the company contended that earlier versions of…
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