tl;dr
Defendants in the In re Ripple Labs Inc Litigation, including CEO Brad Garlinghouse, have requested final judgment on plaintiff class action claims and a stay on individual state law claims. The court has ordered the parties to consider an alternative resolution, with a deadline of November 4, 2024....
XRP Lawsuit: Defendants, including CEO Brad Garlinghouse, request final judgment on plaintiff class action claims and a stay on individual state law claims. The court orders parties to consider an alternative resolution by November 4, 2024. Lead plaintiff Bradley Sostack and Ripple Labs also seek final judgment on class action claims.
Ripple vs. SEC lawsuit set for appeals hearing in the U.S. Second Circuit Court of Appeal. SEC reinstates charges against Ripple executives. January 15, 2025, set as deadline for principal brief. XRP price trading near $0.52, down 17% this month despite market conditions.
In the latest development in the In re Ripple Labs Inc Litigation, defendants have requested final judgment on plaintiff class action claims and a stay on individual state law claims. The court has ordered the parties to consider an alternative resolution with a deadline of November 4, 2024.
In the latest court filing, Judge Phyllis Hamilton ordered the parties to consider an alternative resolution of filing a voluntary dismissal without prejudice of the remaining individual claim. This claim is subjected to re-filing after the resolution of the appeal on the class claims of securities law violation by Ripple, Brad Garlinghouse, and XRP II LLC.
Lead plaintiff Bradley Sostack and Ripple Labs, XRP II, and Brad Garlinghouse requested the court to issue final judgment on plaintiff’s class action claims on securities law violations. They also requested a stay order on further proceedings related to state securities law violation claims. The settlement conference was unsuccessful, and individual plaintiffs intend to appeal the summary judgment order resolving the class claims.
Ripple vs SEC lawsuit set to proceed in the U.S. Second Circuit Court of Appeal. SEC reinstates securities law violation charges against Ripple executives Brad Garlinghouse and Chris Larsen. Ripple Labs executives hired key attorneys in the appeals court to dismiss claims in the XRP lawsuit. January 15, 2025, set as the deadline for the SEC's principal brief. XRP price trading near $0.52, down 17% this month despite overall bullish market conditions.