Latest Case: Tetragon Financial Group Limited v. Ripple Labs Inc. (Business Law)

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Austin Sarat—Associate Provost and Associate Dean of the Faculty and Professor of Jurisprudence & Political Science at Amherst College—comments on the decomposition of the legal injection paradigm over the past few decades, since it was first adopted in Oklahoma in 1999. Professor Sarat observes the evolution of the procedure over time and points out that none of the changes has resolved lethal injection’s fate or repaired its vexing problems.

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SMU Dedman School of Law professor Joanna L. Grossman comments on a Texas bill that would allow teens to access birth control without parental involvement. Professor Grossman describes the current state of reproductive health laws and policies in Texas and explains why the proposed bill is so important.

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Tetragon Financial Group Limited v. Ripple Labs Inc.

Docket: C.A. No. 2021-0007-MTZ

Opinion Date: March 19, 2021

Judge: Morgan T. Zurn

Areas of Law: Business Law

In this expedited contractual dispute, the Court of Chancery granted summary judgment in favor of defendant Ripple Labs, Inc., holding that Ripple was entitled to summary judgment. Ripple, an enterprise blockchain company, executed a stockholders' agreement with Tetragon Financial Group, Ltd., an investment company that held a majority of Ripple's Series C preferred stock, memorializing Tetragon's investment and status as "Lead Purchaser." Pursuant to the agreement Tetragon had a reception right that was triggered upon a "Securities Default," upon which Tetragon may demand redemption of its shares via a "Redemption Request." At issue was whether certain actions by the SEC constituted a "Securities Default" under the agreement. The Court of Chancery granted summary judgment for Ripple, holding that certain SEC processes satisfied the definition of "Securities Default."