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Ripple Faces New Proposed Order, Hurdle in Appeals Court
XRP Lawsuit: In the latest development in the class action In re Ripple Labs Inc Litigation, the plaintiffs filed appeals in the Ninth Circuit Appeals Court and filed an opposition to the bill of costs in a California district court.
Meanwhile, the deadline for the principal brief in Ripple vs SEC case is on January 15. Some in the crypto community anticipate that Gary Gensler to create major problems for Ripple before he steps down on January 20.
Ripple Faces New Challenges in XRP Lawsuit
In the latest court filing, lead plaintiff Bradley Sostack has filed a notice of appeal in the U.S. Court of Appeals for the Ninth Circuit. The plaintiffs in class action appeal recent judgments in favor of Ripple Labs, XRP II and CEO Brad Garlinghouse.
This also includes previous orders on Summary Judgment, plaintiff Sostack’s individual claim under California law, and other pending arguments Ripple lost in the district court since October 2020.
As reported by CoinGape, Judge Phyllis Hamilton granted the motion to amend the order pertaining to judgment and stay in the XRP lawsuit. Both parties submitted a proposed order to the court, agreeing that there was no reason to delay judgment as class claims were resolved.
Plaintiff Challenges Ripple’s Bill of Costs
Moreover, plaintiffs have expressed objections to Ripple’s bill of costs and filed a proposed order denying Ripple’s request in the XRP lawsuit. Also, plaintiffs have asked for reducing or declining the costs if the court does proceed to address costs at this stage.
“The Court defer consideration of taxable costs until after completion of the pending appeal and resolution of the stayed individual claim and any remanded Class claims.”
Ripple filed a bill of costs, a declaration of Litigation Director Ana Guardado, and 65 exhibit documents on details of litigation costs, lawyer expenses, and other details in the XRP lawsuit.
Nevertheless, the lawsuit is near the end as the court denied plaintiffs’ most class action claims. The court affirms the judgment in favor of Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse.
The focus is on the Ripple vs SEC lawsuit in the Second Circuit Appeals Court. Ripple executives and the crypto community are upbeat on the dismissal or withdrawal of appeals. However, some have raised concerns about Gary Gensler creating problems as he steps down on January 20, five days after the principal brief deadline.
Meanwhile, XRP price has rallied over 400% after Donald Trump’s win and recent developments including launch of RLUSD stablecoin. The price currently trades at $2.40, moving range-bound for a week.
Varinder Singh
Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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