In the latest update on the Ripple Labs lawsuit, the plaintiff filed a notice regarding the taxed fees in the appeals court. Ripple submitted a “bill of costs” after the district court ruled in its favor, seeking compensation for time and expense spent litigating alleged securities violations.
Lead plaintiff Bradley Sostack filed an appeal challenging the $210,591.52 fee imposed against the class plaintiffs in the United States Court of Appeals for the Ninth Circuit. The lead plaintiff and the class objected to Ripple’s bill of costs and asked the court to deny or reduce the fees.
Despite this, the court ruled in favor of Ripple, XRP II and CEO Brad Garlinghouse in the summary judgment. The class claims involved unregistered offers and sales of securities, the responsibilities of Ripple and Brad Garlinghouse as controlling person, and violations of California securities law.
Ripple filed a statement of costs, accompanied by a statement from General Counsel Ana Guardado and 65 supporting documents describing litigation costs, attorney fees and other details related to the XRP lawsuit. This was probably due to wasted time and expense incurred.
Notably, the trial is now concluded, the parties agree that there was no reason to delay judgment once the class claims were resolved. Additionally, the Trump administration plans to end most lawsuits against crypto companies and establish a clearer regulatory framework.
