Ripple Appeals Court Sets Schedule
The US Court of Appeals for the Ninth Circuit has issued a scheduling order for appeals in the ongoing Ripple lawsuit. This order sets strict deadlines for both parties, with failure to comply potentially leading to dismissal of the appeal.
Key Deadlines in the Ripple Lawsuit Appeal
The scheduling order pertains to appeals related to the In re Ripple Labs Inc Litigation and Sostack v. Ripple Labs cases. Appellant Bradley Sostack must file a Mediation Questionnaire by January 29 and the appeal's opening brief by March 6. This brief will detail arguments against Ripple Labs, XRP II, and CEO Brad Garlinghouse. The court's ruling could set a significant precedent.
Ripple Labs, XRP II, and Brad Garlinghouse are required to file their answering brief by April 7, 2025. Separately, Ripple will also file a brief in the Ripple vs. SEC case by April 16, according to a filing in the 2nd Circuit Court of Appeals. An optional reply can be filed within 21 days of the answering brief.
The Sostack Appeal and Costs
The appeal involves Bradley Sostack's challenge to the district court's ruling. Sostack is appealing against costs taxed in the amount of $210,591.52 against class plaintiffs. Meanwhile, Ripple and Garlinghouse are actively pushing to conclude the case, requesting Sostack and the plaintiff class cover expenses incurred due to what they consider irrational arguments.
Implications and Future Outlook
This appeals court scheduling order represents a significant step in the ongoing legal battle surrounding Ripple and XRP. The outcomes will have substantial implications for the broader cryptocurrency market. The deadlines set by the court ensure a timely resolution. Codeum, a blockchain security and development platform, emphasizes the importance of robust legal frameworks and security best practices in the crypto industry. We offer services like smart contract audits and tokenomics consultation to help projects navigate complexities like these.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Always conduct thorough research and seek professional counsel before making any investment decisions.