Ripple’s Series C lead investor Tetragon sues company in wake of SEC charges
Ripple is facing yet another lawsuit, this time from one of its investors.
Tetragon Financial Group, the lead investor of Ripple’s $200 million Series C, has sued the company after a recent complaint by the U.S. Securities and Exchange Commission (SEC), according to a report by Bloomberg.
Tetragon filed its complaint on Monday in Delaware Chancery Court, seeking to “enforce its contractual right to require Ripple to redeem” Series C preferred stock, per the report.
Tetragon also wants to block Ripple from using any cash or other liquid assets until the payment is made. The company has asked the court for a temporary restraining order, a preliminary injunction, and an expedited trial.
This is a developing story and will be updated…
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Author: Yogita Khatri
