{"id":167827,"date":"2023-10-04T07:48:07","date_gmt":"2023-10-04T02:18:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/xrp-lawsuit-trial-date-locked-in-april-2024-any-further-change-crypto-news\/"},"modified":"2023-10-04T07:48:09","modified_gmt":"2023-10-04T02:18:09","slug":"xrp-lawsuit-trial-date-locked-in-april-2024-any-further-change-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-lawsuit-trial-date-locked-in-april-2024-any-further-change-crypto-news\/","title":{"rendered":"XRP Lawsuit Trial Date Locked In April 2024; Any Further Change? – Crypto News"},"content":{"rendered":"

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The United States District Court for Southern District of New York has set forth a date in the second quarter of 2024 for beginning the trial in the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple. The XRP lawsuit was subject to another major development with the Court\u2019s denial of the SEC\u2019s motion to file an interlocutory appeal.<\/p>\n

Also Read: FTX Bankruptcy: Jump Trading Loses Over $200 Million, Reveals New Book<\/strong><\/a><\/p>\n

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Denial On Multiple Grounds<\/h2>\n

On Tuesday, October 3, 2024, Judge Analisa Torres rejected the SEC\u2019s motion to file an interlocutory appeal in the XRP lawsuit, in which Ripple Labs, chief executive officer Brad Garlinghouse and executive chairman Chris Larsen were included as plaintiffs. The SEC\u2019s motion for certification of interlocutory appeal has been denied<\/a> on grounds that the agency failed to argue how the Court ruling improperly applied the Howey test, how the interlocutory appeal would result in a reversal of the judgment, and on various conditions that support XRP token sale in terms of investment contract.<\/p>\n

XRP Trial Date Fixed<\/h2>\n

While rejecting the US SEC motion for filing an appeal, Judge Torres stated<\/a> that the trial in the XRP lawsuit is set to begin on April 23, 2024. However, the trial date could be subject to the two parties\u2019 compliance to document submission deadline of December 4, 2023, as was stated in the Court\u2019s Pretrial Scheduling Order. A part of the Court order mandated about the submission of filings:<\/p>\n

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\u201cBy December 4, 2023, the parties shall submit any motions in limine<\/em>. Oppositions to any motions in limine<\/em> shall be submitted by December 18, 2023.\u201d<\/p>\n

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Hence, any lapse in submitting the filings could lead to further delay in the XRP lawsuit trial. Earlier, in May 2023, Ripple and the US SEC had filed<\/a> a joint letter for extension to file documents citing the \u201cvoluminous nature\u201d of the materials.<\/p>\n

Meanwhile, the XRP price<\/a> jumped by an impressive 4% in response to the court order.<\/p>\n

Also Read: Ripple Makes Top 100 Fintech List for Cross Border Payments<\/strong><\/a><\/p>\n

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