The ongoing legal battle involving Ripple Labs has intensified as the U.S. Court of Appeals establishes a new timeline for the case. Both Ripple Labs and its CEO, Brad Garlinghouse, must adhere to this schedule by April 7, 2025, or risk having their appeal dismissed.
What Are the Implications of the New Court Order?
In a recent filing, the U.S. Court of Appeals issued a notification regarding the Ripple case, citing “Sostack v. Ripple Labs” as the title of the legal proceedings. This directive underscores the urgency surrounding the compliance of both parties involved.
How Will Ripple Respond to Legal Challenges?
The plaintiff, Bradley Sostack, has accused Ripple Labs and Garlinghouse of breaching securities laws. Although a lower court initially sided with Ripple, the appellate court is now reviewing that decision, creating uncertainty for all parties.
Both sides are required to file any motions seeking relief, and these motions do not automatically transfer from the lower court. Garlinghouse remarked, “We are taking necessary steps to cover the costs of the legal process.”
- Sostack must submit a mediation survey by January 29.
- The opening brief for the appeal is due by March 6, featuring arguments against Ripple and its leadership.
- Ripple plans to refute the expense claims made by Sostack.
As the case unfolds, legal experts speculate that settlements or dismissals could occur as early as April or May, influenced by the Trump administration’s stance on similar appeals. Ripple’s response brief is set to be completed by April 7, with an additional filing related to its case against the SEC due shortly after.
