SEC Files Amended Complaint Against Ripple Targeting Larsen, Garlinghouse

The SEC has filed an amended complaint against Ripple in its ongoing lawsuit against the blockchain firm. The amended complaint now includes more factual details with respect to the individual defendants in the case, Ripple execs Brad Garlinghouse and Chris Larsen, according to attorney Jeremy Hogan who has been closely following the case’s developments.

Interestingly, the amended Paragraph 10 of the complaint now highlights a new allegation, suggesting, “Larsen and Garlinghouse both played significant roles in negotiating and approving Ripple’s Institutional Sales and other offers of XRP to individual investors.”

The attempt to single out individual defendants is odd, Hogan said, given the fact that the SEC doesn’t usually pursue action against the individuals associated with the company issuing the assets in question. “It’s kind of unusual that the SEC names two executives as defendants,” he added.

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