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Ripple class action lawsuit
A lawsuit is pending in the United States District Court for the Northern District of California (the “Court”) against Ripple Labs, Inc.; Ripple’s subsidiary XRP II, LLC, and Bradley Garlinghouse, Ripple’s CEO (collectively, “Defendants”). The lawsuit is known as In re Ripple Labs Inc. Litigation. No. 18-cv-06753-PJH. Here is the full notice; authorized by the Court.
The following are responses to some frequently asked questions. These responses are provided by Kraken, not the Court.

What's This Lawsuit About?

The lawsuit claims that Defendants have offered and sold the digital asset XRP without registration in violation of federal and California securities laws. The lawsuit claims that Defendants are liable to certain persons or entities who purchased XRP. The lawsuit also claims that persons or entities who purchased XRP during the class period (July 3, 2017 to June 30, 2023) have the right to recover (a) the consideration paid for the XRP, with interest, if they retained the XRP, less the current price of the XRP or upon tendering the XRP, or (b) damages if they sold the XRP at a loss. The Court has not decided whether Defendants did anything wrong. Defendants will defend themselves at trial.

Who is Affected?

(1) Federal Securities Claims Class: All persons or entities who purchased XRP from July 3, 2017 through June 30, 2023 and who have (a) retained the XRP, and/or (b) sold the XRP at a loss.
(2) California State Securities Claims Class: All persons or entities who purchased XRP from Defendants and/or from any person or entity selling XRP on Defendants’ behalf from July 3, 2017 through June 30, 2023 and who have (a) retained the XRP, and/or (b) sold the XRP at a loss.
This only applies to class members who purchased XRP within the United States during the relevant class period.
Excluded from the Classes are corporate officers, members of the boards of directors, and senior executives of Defendants; members of their immediate families and their legal representatives, heirs, successors or assigns; and any entity in which Defendants have or had a controlling interest.

If I bought XRP during the relevant period, what are my options?

If you do nothing, you keep the possibility of getting money or benefits that may come from the lawsuit. But you give up any right to sue Defendants separately about the same legal claims in this lawsuit, and will be bound by the result of this lawsuit.
If you ask to be excluded and monies or benefits are later awarded, you will not share in those monies or benefits. But you keep your right to sue Defendants separately about the same legal claims in this lawsuit. Your “Exclusion Request” must state that you want to be excluded from In re Ripple Labs Inc. Litigation. It must also include your name, address, telephone number, email, and signature. Your Exclusion Request must be mailed and postmarked by April 5, 2024, to: In re Ripple Labs Inc. Litigation, c/o JND Legal Administration, Exclusion Requests, P.O. Box 91472, Seattle, WA 98111. You can also send it by email to [email protected] by April 5, 2024.

What happens next?

Class Counsel must prove the claims against Defendants at a trial scheduled for October 2024 in the United States District Court for the Northern District of California. You do not need to attend the trial. Class Counsel will present the case for Plaintiffs, and lawyers for Defendants will present on their behalf. You or your own lawyer may attend at your own expense.

Questions?

For additional information, visit www.RippleClassAction.com; write In re Ripple Labs Inc. Litigation., c/o JND Legal Administration, P.O. Box 91472, Seattle, WA 98111; call 888-256-6154; or email [email protected]. You can also call Class Counsel at 1-310-789-3100. Complete copies of the pleadings, orders and other publicly filed documents in the lawsuit may also be accessed for a fee through the Court’s Public Access to Court Electronic Records (PACER) system at https://ecf.cand.uscourts.gov.

PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE.