In a recent press release, Ripple Labs Inc. announced that "all outstanding litigation" between R3 HoldCo LLC, R3 LLC and XRP II, LLC has been settled. The announcement states that while the settlement details are to remain confidential, both sides are happy to have put the dispute behind. The first lawsuit involving Ripple Labs and R3 Consortium was filed in Delaware and New York back in September 2017. At that time, the consortium claimed that Ripple didn't respect the terms of a purchase agreement the two companies made for XRP tokens. The agreement in question involved an option for R3 to purchase up to 5 billion XRP tokens before the end of 2019, at a price of $0.0085 per token. The case filed in Delaware has been dismissed by a judge. The plaintiff then proceeded with litigation in both New York and California. Later, a counterclaim was filed by Ripple Labs, alleging that R3 failed to adhere to a number of commitments found in the original agreement. At the time the proceedings started, the value of the contract being disputed was just over $1 million. But as the price of XRP increased significantly over the following year, the value of the 5 billion XRP in dispute reached nearly $4 billion. While this legal battle involving Ripple has received a lot of attention in the cryptocurrency world, it isn't the only one involving XRP tokens. In an other lawsuit filed in May by investor Ryan Coffey, the matter in dispute is whether the XRP token should be considered a security. Coffey claims that by selling XRP tokens, Ripple is acting in violation of U.S. securities laws. The lawsuit is also claiming that XRP isn't truly a decentralized cryptocurrency despite Ripple's claims to the contrary. The investor in question allegedly lost $551.89 while trading XRP tokens.
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