The post Ripple vs SEC: XRP Lawsuit Takes a Positive Turn with Court’s Latest Ruling appeared first on Coinpedia Fintech News
In the latest development, Ripple has scored a legal victory. In the ongoing In re Ripple Labs Inc. litigation, a US court has ruled in favor of Ripple Labs, XRP II LLC and Brad Garlinghouse. This is a huge win for Ripple in the long-running case over unregistered securities sales. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on certain class claims, which limits the case and sets up a trial in January 2025.
The joint motion that was filed by both Ripple and the plaintiffs, asked for final judgment on the settled class claims and a stay on the remaining claims pending appeal. The order focuses on the class action claims for unregistered securities sales, Ripple’s liability as a “control person” and California securities law violations.
The End of Lawsuit Soon?
This marks a huge milestone for Ripple and could speed up the end of the lawsuit. The judge has set the trial date for January 21, 2025, and has dismissed the earlier pretrial dates. It cour will declare new dates after the resolution of any or all appeals of the class claims.
Ripple had asked for this final judgment on the class claims to avoid a long process, to narrow the case, and to get clarity on the remaining claims. The court also notified both sides to explore other ways to resolve the dispute which could indicate settlement talks in the coming months.
Implications on the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance the confidence in their stance against the SEC.
Especially after Trump has hinted towards regulatory clarity in the industry, and promised to fire Gary Gensler, the market anxiously awaits an action from the administration. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli had stated that while a settlement appears more realistic, however, a full dismissal might be unlikely.
Gary Gensler To Exit Soon?
While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (MetaLawMan on X) believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.
