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Ripple was issued a notice of default after failing to meet court filing deadlines. Legal experts criticized Ripple for procedural errors despite the high legal costs.
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Ripple Labs has missed key filing deadlines and is facing procedural setbacks in its legal battle with the SEC.
Court of Appeals: Notice of Failure to Appear
Earlier today, the U.S. Court of Appeals for the Second Circuit issued a notice of default to Ripple’s legal team for missing the Oct. 18, 2024 deadline to file citations and notices to appear. did.
The court granted Ripple a 14-day extension to submit the necessary documents to the team until November 1, 2024.
If Ripple’s lawyers fail to meet this new deadline, they risk being barred from arguing in future appellate courts without special permission from the court.
This filing delay poses significant risks to Ripple’s defense strategy in appeals to the SEC.
Legal experts like attorney Fred Rispoli have commented on the matter, acknowledging that while the omission may seem minor, it’s an avoidable mistake, especially given the high legal fees Ripple is paying. Ta.
“This time, Ripple failed to submit the form on time. It’s not a big deal, but it’s not something you’d want to see paying $8,000 an hour for legal services,” Rispoli said. .
The stakes remain high for Ripple to survive this high-profile legal battle. Any further procedural errors could weaken the defense’s defense, especially at this critical stage of the appeal.
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