XRP Lawsuit Faces Delays as SEC Shutdown Looms: Key Dates Revealed
Mustafa Mulla21 Dec 20242 min read
The U.S. Court of Appeals has announced important dates in the lawsuit filed by Bradley Sostack against Ripple. At the same time, the U.S. Securities and Exchange Commission (SEC) is racing to file its main brief before Chairman Gary Gensler steps down. However, a possible government shutdown could delay the process. Here’s what’s at stake.
Key Deadlines for Both Parties
The court has ordered Bradley Sostack to submit a Mediation Questionnaire by December 23, mirroring the SEC’s filing timeline. Following this, the court expects the Appeals Transcript Order by December 31, and the full transcript by January 30. These deadlines set the stage for the next steps in the case.
Sostack is set to file his opening brief on March 6, 2025, where he will outline his claims against Ripple and its CEO, Brad Garlinghouse. Ripple Labs, XRP II, and Garlinghouse must respond by April 7, 2025. If either side misses these deadlines, the appeal could be dismissed.
Ripple’s Legal Wins, but Sostack Presses Forward
Despite recent favorable rulings for Ripple, Sostack is determined to move forward with his case. Judge Phyllis Hamilton recently approved a motion to amend the judgment and stay in the case. Both sides agreed there was no need to delay the judgment since the class claims had already been settled. However, the legal fight continues.
Ripple vs. SEC drama could shape XRP’s future curious how it affects the price? Read XRP price prediction to stay ahead of the curve!
SEC Prepares for Shutdown
The SEC, also a key player in the Ripple lawsuit, is facing its own challenges. With a potential U.S. government shutdown on the horizon due to budget issues, the SEC may struggle to file its response on time.
Some analysts suggest this could temporarily ease the pressure on Ripple, but any delay could push back a resolution, leaving the regulatory status of XRP unclear for longer.
As Ripple fights on and the SEC faces hurdles, the path ahead remains anything but clear, leaving many wondering what the next chapter will bring.
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