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Highlights
- Lead plaintiff Bradley Sostack has filed an appeal regarding costs taxed in the amount of $210,591.52
- Ripple seeks to end the irrational securities violation lawsuit.
- XRP community and experts believe Ripple vs SEC case is nears resolution.
XRP Lawsuit: In the latest development in the In re Ripple Labs Inc Litigation, plaintiff has filed a notice regarding costs taxed in the appeals court. Ripple submitted the ‘bill of costs’ after the district court ruled in favor of the company and CEO Brad Garlinghouse, seeking funds for time wasted and expenses incurred in the lawsuit for securities violations.
Lead Plaintiff in XRP Lawsuit Files Appeals in US Court
In a recent court filing in the Ripple lawsuit, lead plaintiff Bradley Sostack has filed an appeal regarding costs taxed in the amount of $210,591.52 against class plaintiffs in the United States Court of Appeals for the Ninth Circuit.
The lead plaintiff and class objected to Ripple’s bill of costs and requested the court to deny Ripple’s request in the XRP lawsuit. Also, plaintiffs asked for reducing or declining the costs if the court does proceed to address costs at this stage.
However, the court ruled in favor of Ripple, XRP II and CEO Brad Garlinghouse in the summary judgment. The class claims included unregistered offers and sales of securities, liabilities of Ripple and Brad Garlinghouse as control person, and California securities law violations.
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. It likely came in response to time wasted and expenses incurred in this securities law violations lawsuit. Moreover, a push to end the irrational lawsuit immediately.
The Ripple lawsuit has finally come to an end as the parties said there was no reason to delay judgment as class claims were resolved. Moreover, the Trump administration will proceed to end most lawsuits against crypto companies and provide a better regulatory framework.
XRP Community Awaits Ripple Vs SEC Case Dismissal
The XRP community now waiting for the resolution of the Ripple vs SEC lawsuit. Experts and lawyers closely following the case, including ex-SEC lawyer Marc Fagel, believe the US SEC under Paul Atkins may not pursue the appeals further.
Lawyer Jeremy Hogan predicted April or May as the likely timeline for the end of the long-running legal dispute between Ripple and the US SEC.
Meanwhile, XRP price holds above $3 as the community is confident about the resolution of the XRP lawsuit. The price is down 5% in a week due to upcoming headwinds for the crypto market. Specifically, XRP was changing hands for $3.12, trading within a tight range from a low of $3.08 to a high of $3.16 in 24 hours.
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