Plaintiff Appeals Ripple’s Request for Expense Payment After Court Ruling
In the latest update to the Ripple Labs lawsuit, the plaintiffs filed a notice of fee levy with the Court of Appeal. After the district court ruled in its favor, Ripple filed a “schedule of costs” seeking compensation for the time and expense of litigating the alleged securities violations.
Lead Plaintiff Bradley Sostack submit An appeal was filed in the U.S. Court of Appeals for the Ninth Circuit challenging the $210,591.52 in fees imposed on the class plaintiffs. The lead plaintiff and class objected to Ripple’s list of fees and asked the court to deny or reduce them.
Nonetheless, the court ruled in favor of Ripple, XRP II, and CEO Brad Garlinghouse in a summary judgment. The class claim involves unregistered offers and sales of securities, liability of Ripple and Brad Garlinghouse as controllers, and violations of California securities laws.
Ripple submitted a fee schedule, a statement from Director of Litigation Ana Guardado, and 65 exhibit documents outlining litigation costs, attorney fees, and other details related to the XRP lawsuit. This may be in response to time wasted and expenses incurred.
Notably, the litigation is now concluded, with both parties agreeing that there is no reason to delay judgment as the collective claims are resolved. Additionally, the Trump administration plans to end most lawsuits against cryptocurrency companies and establish a clearer regulatory framework.
Ripple SEC Litigation
Recent rumors surrounding the Ripple v. SEC case have once again fueled XRP price volatility. Investors speculated on a possible settlement or dismissal, causing prices to rise. As the Securities and Exchange Commission holds its first closed-door meeting under new acting Chairman Mark Uyeda, many expect the meeting to yield significant results in the current case.
Although former SEC lawyer Marc Fagel recently denied these claims, market participants remain optimistic about potentially positive news that could lead to a significant increase in the price of XRP.
The XRP community is paying close attention to Ripple’s lawsuit with the SEC, and experts such as former SEC lawyer Marc Fagel said that under the leadership of Paul Atkins, the SEC may choose not to appeal. Lawyer Jeremy Hogan predicts that the protracted legal battle between Ripple and the US SEC may end in April or May.
