Plaintiff Appeals Ripple’s Expense Payment Request Following Court Ruling in XRP Lawsuit

In the most recent update regarding the Ripple Labs lawsuit, the plaintiff has submitted a notice concerning costs taxed in the appeals court. Ripple presented a “bill of costs” following a favorable ruling by the district court, seeking reimbursement for the time and expenses dedicated to the lawsuit surrounding alleged securities violations.

Lead plaintiff Bradley Sostack has lodged an appeal contesting the $210,591.52 in costs taxed against class plaintiffs at the U.S. Court of Appeals for the Ninth Circuit. Both the lead plaintiff and class members opposed Ripple’s bill of costs and urged the court to either reject or reduce the costs.

Nevertheless, the court ruled in favor of Ripple, XRP II, and CEO Brad Garlinghouse in the summary judgment. The class action involved claims of unregistered offers and sales of securities, liabilities of Ripple and Brad Garlinghouse as a controlling person, and violations of California securities laws.

Ripple submitted a bill of costs, accompanied by a statement from Litigation Director Ana Guardado and 65 exhibit documents detailing litigation expenses, attorney fees, and other pertinent information related to the XRP lawsuit. This action was likely taken in response to time wasted and expenses incurred.

Significantly, the lawsuit has reached a conclusion, with the parties mutually agreeing that there is no need to delay judgment given the resolution of the class claims. Additionally, the Trump administration is planning to resolve most lawsuits against cryptocurrency companies and establish a more defined regulatory framework.

Tags: Ripple (XRP)