🏛 Ripple sued for another securities fraud lawsuit in California

A new securities fraud lawsuit is filed against Ripple ($XRP) and the lead plaintiff, David Oconer, is seeking to have XRP classified as a security. According to the lawsuit, the way XRP is managed and distributed by Ripple Labs as well as how the coin is conflated with the company's product offerings makes it a security. Consequently, the suit claims that the company has violated securities laws by selling the coin.