$XRP Litigation New Developments, Ripple Faces New Challenges!
In the lawsuit against Ripple Labs Inc regarding XRP, there have been new developments.
The plaintiffs, dissatisfied with their previous loss, have appealed to the Ninth Circuit Court of Appeals, while also raising objections regarding litigation costs to a local court in California.
On the other hand, Ripple's lawsuit against the SEC has also reached a critical moment, with the deadline for major summaries set for January 15.
Some speculate that SEC Chairman Gary Gensler might give Ripple a big surprise before his departure on January 20, making their situation even more difficult.
Specifically, among the appellants in this appeal is a lead plaintiff named Bradley Sostack, who directly submitted the notice of appeal to the Ninth Circuit Court of Appeals.
They are unhappy with the previous favorable ruling for Ripple Labs, XRP II, and CEO Brad Garlinghouse, and have decided to take another shot.
In addition to this, the plaintiffs have also questioned Ripple's bill of costs.
They believe Ripple's expenses are excessive and unreasonable, so they submitted a proposed order requesting the court to deny Ripple's requests, or even reduce or lower their fees.
However, Ripple is not backing down; they submitted a detailed bill of costs along with various supporting documents to prove that their expenditures are reasonable.
That said, since the court has already dismissed most of the plaintiffs' class action requests, this lawsuit is actually nearing its end.
The court still upheld the favorable ruling for Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse.
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