Payments firm MoneyGram is facing legal action over claims it made about its relationship with Ripple and XRP, following complaints from investors that it may have made false statements. In a class action lawsuit filed in California, a group of investors who bought securities from MoneyGram in the period between June 17, 2019 and February 22, 2021 are alleging that the company behaved fraudulently to induce the transactions. https:\/\/twitter.com\/rosen_firm\/status\/1366787942262468616?s20 In particular, the action centers on claims that MoneyGram did not confirm the status of XRP as a security, which constitutes a breach of the rules around issuing and selling securities. Back in June 2019, MoneyGram published a notice confirming a \u201cstrategic partnership\u201d between the two firms, suggesting MoneyGram was using Ripple\u2019s xRapid system for \u201cleveraging XRP in foreign exchange,\u201d part of MoneyGram\u2019s cross-border payments infrastructure. By December, MoneyGram had issued a correction, clarifying that it was not in fact reliant on xRapid\u2014since rebranded to On-Demand Liquidity, or ODL. In its clarifying statement, MoneyGram said it was not party to an SEC action against Ripple, and that it did not rely on the platform for the transfer of consumer funds. \u201cMoneyGram does not utilize the ODL platform or RippleNet for direct transfers of consumer funds\u2014digital or otherwise. Furthermore, MoneyGram is not a party to the SEC action.\u201d The partnership was subsequently suspended by MoneyGram after the SEC raised allegations of securities violations in December 2020. Law firm Rosen said MoneyGram had failed to disclose to investors that the regulator viewed XRP as an unlawful, unregistered security. \u201cAs a result, defendants\u2019 public statements were materially false and\/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.\u201d The case is only the latest legal action to emerge from Ripple\u2019s XRP, following the ruling by the SEC that the token was in fact an unregistered security. \u2003 Follow\u00a0CoinGeek\u2019s Crypto Crime Cartel\u00a0series, which delves into the stream of groups-from\u00a0BitMEX\u00a0to\u00a0Binance,\u00a0Bitcoin.com,\u00a0Blockstream,\u00a0ShapeShift,\u00a0Coinbase,\u00a0Ripple\u00a0and\u00a0Ethereum\u2014who have co-opted the digital asset revolution and turned the industry into a minefield for na\u00efve (and even experienced) players in the market.