Recent updates in the long-standing legal struggle between the U.S. Securities and Exchange Commission (SEC) and Ripple $3 Labs have emerged. Defense attorney James K. Filan reported that both parties have submitted a joint stipulation. Following this development, the price of XRP ($2.85) surged by 11.52%, capturing the attention of market participants.
The Evolving Nature of the Case
Attorney James K. Filan indicated that both sides have agreed to submit a delayed supplemental filing for counterclaims. The SEC is required to submit its opening brief within a specified timeframe. Filan elaborated that the official document includes the statement: “The parties have agreed to submit a delayed supplemental filing for the contest and counterclaim pursuant to Fed. R. App. P. 30(c) and L.R. 30.1(c).”
“This means the parties will submit a single consolidated supplemental filing containing information referenced in subsequently filed motions. This does not change anything regarding motions that have not been filed y…
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