Blockchain and the Law

Tag Archives: Section 5

Three Critical Questions That Will (Hopefully) be Answered by the SEC’s Lawsuit against Ripple

By Timothy W. Mungovan, Joshua M. Newville and Samuel J. Waldon on Posted in Bitcoin, Cryptocurrencies, Digital Assets, Enforcement Action, Initial Coin Offerings, SEC, Securities
Late last year, the SEC filed a litigated action in the U.S. District Court for the Southern District of New York against Ripple Labs Inc. and two of its executive officers (collectively, “Ripple”), alleging that Ripple raised over $1.3 billion in unregistered offerings of the digital asset known as XRP. Ripple opted not to file a motion … Continue Reading

Lawsuit Alleging that LATX Tokens are Securities Survives Motion to Dismiss

By Divya Taneja on Posted in Litigation: Civil, Securities, Token Sales
On December 10th, 2018, a U.S. District Judge for the District of New Jersey denied Latium Network, Inc. (“Latium”) and its co-founders’ motion to dismiss a class action alleging violations of Section 5 of the Securities Act of 1933 (the “Act”) for offering and selling unregistered securities in the form of Latium X (“LATX”) tokens.… Continue Reading
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