The legal saga of Ripple Labs took another turn with a recent update. The plaintiff has filed a notice regarding costs taxed in the appeals court, while Ripple submitted a “bill of costs” following a favorable district court ruling. The company is now requesting compensation for the time and expenses spent on the lawsuit over alleged securities violations.
Here’s what you should know.
Sostack Appeals the Court’s Ruling on Costs
Lead plaintiff Bradley Sostack has filed an appeal to challenge the $210,591.52 in costs taxed against the class plaintiffs in the U.S. Court of Appeals for the Ninth Circuit. Sostack and the class are asking the court to either deny or reduce Ripple’s bill of costs.
Despite these objections, the court ruled in favor of Ripple, XRP II, and CEO Brad Garlinghouse
Ripple’s bill of costs includes a declaration from Litigation Director Ana Guardado, along with 65 exhibit documents detailing litigation costs, lawyer expenses, and other relevant information. This filing was likely aimed at covering the wasted time and incurred costs during the lawsuit.
The lawsuit now appears to be over, with both parties agreeing that there’s no reason to delay judgment. The class claims have been resolved, and the Trump administration has plans to end most lawsuits against crypto companies while creating a clearer regulatory framework for the industry.
The Ripple vs. SEC case continues to stir speculation. Recent rumors of a possible settlement or dismissal have caused XRP’s price to rise. Investors are closely watching the situation, especially after the U.S. SEC’s first closed meeting under acting chairman Mark Uyeda. Many are hoping for a major decision to come out of this meeting that could change the course of the case.
Though former SEC attorney Marc Fagel has rejected these rumors, market participants remain hopeful. Many are optimistic about potential positive news that could lead to a sharp increase in XRP’s price. With so much uncertainty, the XRP community is keeping a close eye on developments.
Legal experts, including former SEC lawyer Marc Fagel, suggest the SEC may not pursue further appeals under the leadership of Paul Atkins. Lawyer Jeremy Hogan believes this lengthy legal battle could conclude in April or May, bringing much-needed clarity to Ripple’s future.
As Ripple’s legal fight continues, both investors and the broader crypto community are eagerly awaiting what comes next. Will Ripple prevail, or will the SEC’s efforts carry on? Only time will tell.
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