XRP investors are involved in a securities-fraud class action against former Linqto CEO William Sarris, accusing him of imposing high mark-ups on pre-IPO Ripple shares and other private-company equity.
Lead counsel John E. Deaton, known for representing XRP holders in SEC v. Ripple, argues that Sarris misled investors and damaged the mission of providing access to Silicon Valley.
Investor outreach has faced challenges, with Deaton's attempts disrupted, leading to plans for alternative communication methods. Restructuring discussions and regulatory pressures are ongoing for Linqto.
Linqto faces bankruptcy, regulatory investigations, and internal challenges, with investors seeking to influence the bankruptcy process. XRP was trading at $2.42 at the time of reporting.