When will the XRP lawsuit commence (XRP lawsuit)

The XRP lawsuit is currently ongoing in the United States District Court for the Southern District of New York. According to court documents, the plaintiff has filed a class-action lawsuit against the defendant, seeking compensation for losses, refunds, settlement fees, and criminal penalties. However, this does not mean that both parties have reached an agreement regarding Ripple and its CEO Brad Garlinghouse’s false statements and fraudulent token sales, which have damaged their working relationship and reputation. Therefore, the plaintiff has submitted several appeals to the court requesting the dismissal of the lawsuit. (Coindesk)

XRP lawsuit

According to CoinDesk, XRP’s lawyers have recently filed a lawsuit in the United States District Court for the Northern District of California. The plaintiff states that if XRP fails to fulfill its legal obligations and/or commitments, it should be sentenced to imprisonment (i.e., violating securities laws), and the organization should cease any illegal activities. However, since it is not clearly explained why XRP does not comply with securities laws, the defendant can continue to defend themselves and agree to a settlement that allows them to share in the profits. As previously reported, Ripple Labs submitted a final proposal regarding XRP claim issues in early July of this year, which is currently awaiting approval from the Southern District of New York court.