After nearly a year of litigation between Ripple Labs and R3 Consortium, Ripple has published a statement saying that the two companies have reached an agreement that ended their legal disputes. Before the final settlement of the conflict, both the conflicting parties have no right to disclose details of the agreement.
The whole conflict began last year, when R3 has filed a lawsuit against Ripple Labs in the state of Delaware, stating that the creators of XRP has violated the agreement on the purchase of tokens between the two companies, which would allow the consortium to acquire 5 billion XRP tokens in installments or in a single size at a price of $ 0.0085 per dollar. Although the lawsuit against Ripple was dismissed by the court in Delaware, R3, has filed two lawsuits in new York and California, the latter of which was also rejected.
In response to the lawsuit, CEO of Ripple brad Garlinghouse sent an email to the President of the R3 Consortium to David Rutter and also filed a lawsuit against R3 in a California court. In this Ripple argued that the consortium has also violated several provisions in the purchase agreement.
This out-of-court settlement is not the first clash of the Ripple with the court for the last time. In addition to the claim for violation of the provisions of the contract, trials Ripple also dealt with the interpretation of the token XRP and how company leaders can influence the price of a token.
May be Ryan Coffey, a claim which was withdrawn by him at the end of August, sums up the General feeling around the XRP, the Commission on securities and stock and the company Ripple. It should be noted that due to the high amounts in the original agreement, this agreement was beneficial to all parties involved in the transaction.
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