Investor files lawsuit against Ripple on 'never ending ICO'
Ripple investor Ryan Coffey has filed a class-action lawsuit against Fintech startup Ripple Labs alleging that it raised millions of dollars through a "never-ending Initial Coin Offering". Ripple violated state and federal laws by offering unregistered securities to retail investors, the lawsuit said. Coffey is seeking unspecified damages and declaration that the firm sold unregistered securities.