In an
apparent victory for the Blockchain-based payment network Ripple, a Delaware
judge ruled in their favor regarding the recent lawsuit over R3 consortium’s
wish to force the company to make good on a contract to buy a huge volume of
XRP. The news broke via Ripple’s Twitter account:
Breaking news! twitter.com/bgarlinghouse/…
R3, the
‘Blockchain-inspired’ startup servicing banks and financial institutions,
maintains that Ripple Labs has violated a prior purchase agreement for XRP
tokens between the two companies.
Califonia
next
Brad
Garlinghouse, Ripple’s CEO, started the Twitter feud, indicating that the judge
in the Delaware lawsuit had ruled to ‘throw out’ the case. However, after
further information came to light, the judge had issued a verbal ruling
regarding Delaware’s jurisdiction over the matter. The lawsuit will proceed,
however, in California and New York.
The case,
according to others, will continue in California and New York. R3 is suing
Ripple for specific performance of an option agreement in which Ripple agreed
to sell up to five bln XRPs for a price of $.0085. Ripple has countersued,
claiming that R3 reneged on a number of contractual promises, and is simply
acting in a spirit of opportunism, after the cryptocurrency soared more than 30
times over.
Source: Cointelegraph
Source: Cointelegraph
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