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The U.S. Court of Appeals has issued a scheduling order for the long-standing Ripple 
$2 case, mandating compliance from both parties. Failure to adhere to this timeline may lead to the dismissal of the appeal. Ripple Labs and CEO Brad Garlinghouse are required to comply with this schedule by April 7, 2025.
Legal Proceedings and New Schedule
In its latest filing, the U.S. Court of Appeals announced a case filing notification regarding Ripple Labs Inc. Furthermore, the court issued a scheduling order under the title “Sostack v. Ripple Labs.”
Parties’ Documentation and Final Requests
Plaintiff Bradley Sostack accused Ripple, XRP II, and CEO Brad Garlinghouse of violating securities laws. The lower court initially ruled in favor of Ripple and Garlinghouse, but this decision is currently under review by the appellate court.
The appellate court has instructed the parties to separately file any motions seeking relief from this court. The motions filed alongside the notice of appeal submitted to the lower court do not automatically transfer to this court.
“We are taking necessary steps to cover the costs of the legal process,” stated Ripple Labs CEO Brad Garlinghouse.
According to the court’s scheduling order, plaintiff Bradley Sostack must complete a mediation survey by January 29. Additionally, the opening brief for the appeal must be submitted by March 6, containing clear arguments against Ripple Labs, XRP II, and CEO Brad Garlinghouse.
Ripple Labs and CEO Garlinghouse are working to conclude the case while rejecting the expense claims from Sostack and the plaintiff class. The company is seeking funds through a “cost invoice” for time and expenses incurred due to the alleged securities violations.
Legal experts anticipate that due to the Trump administration’s decision to not follow up on appeals, crypto-related cases may lead to settlements or dismissals in April or May.
Ripple and its team plan to submit their response brief by April 7, 2025. The company also intends to file a brief in the Ripple vs. SEC case by April 16.
The progression of this case could set a significant precedent regarding Ripple’s compliance with securities laws. Adherence to the timeline by the parties involved could be crucial in determining the outcome of the case.
