The U.S. Court of Appeals has set key dates for the ongoing lawsuit filed by Bradley Sostack against Ripple Labs. The court has ordered Sostack to submit a Mediation Questionnaire by December 23, followed by the Appeals Transcript Order by December 31, and the full transcript by January 30. Sostack’s opening brief outlining his claims against Ripple and its CEO, Brad Garlinghouse, is due on March 6, 2025. Ripple Labs, XRP II, and Garlinghouse must respond by April 7, 2025, or risk having the appeal dismissed if they fail to meet these deadlines.
Despite recent favorable rulings for Ripple, Bradley Sostack is continuing to move forward with his claims. Judge Phyllis Hamilton recently approved a motion to amend the decision about judgment and the stay in the case. Both sides agreed that there was no need to postpone the judgment since the class claims were already settled, setting the stage for further legal proceedings.
While the legal battle between Ripple and Sostack continues, the SEC, also involved in the lawsuit, faces challenges of its own. The looming government budget issue could delay the SEC’s response to the appeal, potentially pausing the ongoing legal battle. This delay could relieve immediate pressure on Ripple but might also push back any resolution that could bring clarity to the regulatory status of XRP, the digital currency at the center of the lawsuit.
The potential delay in the SEC’s response is due to the U.S. government approaching a potential shutdown over budgetary issues. If this shutdown occurs, it could further complicate the legal proceedings and add uncertainty to the outcome of the Ripple lawsuit. Analysts are predicting that the legal battle might be put on hold if the government shutdown happens, leading to further delays in resolving the case.
Ultimately, the future of the Ripple lawsuit remains uncertain as key dates are set for further legal proceedings. Bradley Sostack’s determination to push forward with his claims against Ripple, despite recent favorable rulings, indicates that the legal battle is far from over. The potential government shutdown and delays in the SEC’s response add another layer of complexity to the case, raising questions about the timeline for reaching a resolution and providing clarity on the regulatory status of XRP.
As the legal battle continues to unfold, all eyes will be on the U.S. Court of Appeals and the SEC to see how they navigate the challenges ahead and how they work towards reaching a resolution in the Ripple lawsuit. The outcome of this case could have far-reaching implications for Ripple Labs, Brad Garlinghouse, and the cryptocurrency industry as a whole, making it a closely watched and highly anticipated legal showdown in the financial world.
