Ripple Won The Legal Fight Against Tetragon

Ripple triumphed yesterday from the Tetragon Financial Group lawsuit.

Ripple had a very busy day in the field of law, won the legal fight against Tetragon. The asset management company was known as the biggest contributor in the C series financing tour in December 2019, with $ 175 million. However, after the SEC filed a lawsuit against Ripple, it demanded that Ripple take back its shares, based on a provision in the deal. This deal stipulated that if XRP was accepted as a forward-looking security, the shares were bought back by Ripple. However, there is no finalized decision that XRP is a security yet. Tetragon applied to the court for this in December, while the case was decided yesterday. Delaware court judge Morgan T. Zurn dismissed Tetragon's request for injunctive relief, as there was no official ruling on the status of XRP, and ordered that the previous injunction be lifted.   In the statement made by Ripple, the following were included: “This decision, combined with a separate SEC application today, should eliminate any confusion: The SEC DID NOT DETERMINE that XRP is a 'security'. […] Separately, the SEC acknowledged that it has not reached any conclusion on the status of XRP in another lawsuit filed by XRP holders today. In their words: The trial on the SEC's case against Ripple is the only way to test the validity of the SEC's claims against Ripple. We do not believe that the SEC can prove its claims in court. As our lawyers say, the SEC is completely wrong. We look forward to resolving the SEC's case fairly and quickly and removing the dust cloud created by the institution's erroneous actions in the XRP market.