Ripple Lawsuit: Deadlines Set as Precedent Looms

The U.S. Court of Appeals for the Ninth Circuit has issued a scheduling order in the ongoing Ripple lawsuit, setting deadlines for both parties to file their respective briefs. The order comes as the court considers appeals related to the district court's rulings in the case.

The appellant, Bradley Sostack, is required to file the Mediation Questionnaire by January 29 and the appeal opening brief by March 6. This brief will outline Sostack's arguments against Ripple Labs, XRP II, and CEO Brad Garlinghouse. The ruling in this case could potentially set a binding precedent for the broader Ripple vs. SEC lawsuit.

Ripple Labs, XRP II, and CEO Brad Garlinghouse are scheduled to submit their appeals answering brief by April 7. Notably, Ripple Labs has also been ordered to file its brief in the Ripple vs. SEC case by April 16, as per a separate filing in the 2nd Circuit Court of Appeals. An optional reply may be filed within 21 days of the submission of the answering brief.

Meanwhile, Ripple and CEO Garlinghouse have been pushing to end the lawsuit, seeking reimbursement for expenses incurred during the proceedings. The crypto company submitted a 'bill of costs' after the district court ruled in its favor, seeking funds for time wasted and expenses incurred in the lawsuit for alleged securities violations. Lead plaintiff Bradley Sostack has appealed against the costs taxed in the amount of $210,591.52 against class plaintiffs.

Legal experts believe that crypto lawsuits, including the Ripple case, may see settlement or dismissal in April or May, as the Trump administration is expected to decide not to pursue appeals.