The U.S. Court of Appeals has just revealed key dates for the explosive lawsuit filed by Bradley Sostack against Ripple. In the meantime, the US Securities and Exchange Commission (SEC) is working to file its main brief before Chairman Gary Gensler leaves, but a potential government shutdown may cause delays. Here’s Why!
Ripple Lawsuit: Key Dates Set
The U.S. Court has ordered Plaintiff Bradley Sostack to submit a Mediation Questionnaire by December 23 similar to the US SEC appeals filing. Following that, the court expects the Appeals Transcript Order by December 31, and the full transcript by January 30.
Meanwhile, Sostack will file his opening brief on March 6, 2025, outlining his claims against Ripple and its CEO, Brad Garlinghouse.
Although Ripple Labs, XRP II, and Garlinghouse’s response is due by April 7, 2025. If either party fails to meet these deadlines, the appeal could be dismissed.
Previous Court Rulings
The recent announcement follows earlier court rulings that have been favorable to Ripple. Despite this, Bradley Sostack is still pushing 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 proposed a new order, agreeing there was no need to postpone the judgment since the class claims were already settled.
SEC Prepares for Shutdown
In the meantime, the Securities and Exchange Commission (SEC), which is also involved in the Ripple lawsuit, faces challenges of its own. The U.S. government is approaching a potential shutdown due to budgetary issues.
The situation could delay the SEC’s response to the appeal, with some analysts predicting that the ongoing legal battle could be paused. This delay might relieve some immediate pressure on Ripple, but it could also push back any resolution that might bring clarity to the regulatory status of XRP.
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