This is not even remotely close to accurate. It has to do with the fact that Ripple pre-mined all their coins and owned them, becoming a centralized entity that distributes coins that people buy. If Ripple were to sell all their coins to other parties, they would no longer be violating securities laws. Are you familiar with the Howey Test?

Who would they even serve a lawsuit to in regards to HIVE? There is no central authority running it. It's not even close to be considered a security at this point.