NAIROBI (CoinChapter.com) — Ripple Labs has encountered a procedural obstacle in its ongoing Ripple vs. SEC legal battle after missing a critical court deadline. On Oct. 18, 2024, the U.S. Court of Appeals for the Second Circuit issued a default notice to Ripple’s legal team for failing to submit an Acknowledgment and Notice of Appearance form on time. The court granted a 14-day extension, pushing the new deadline to Nov. 1, 2024.
Missed Deadline Puts Ripple’s Defense at Risk
The court’s default notice raises concerns over Ripple’s defense strategy as the company fights to overturn a previous ruling in favor of the SEC. Ripple’s legal team now has until Nov. 1 to file the necessary documents. Otherwise, they risk being barred from presenting their arguments in the appeal hearing without special permission from the court.
Legal experts, such as attorney Fred Rispoli, have weighed in on the procedural misstep, calling it an avoidable error that could weaken Ripple’s position. Rispoli noted that while missing the filing deadline might seem minor, it’s still concerning given the reported legal fees Ripple is paying. “This time Ripple failed to file a form on time. Not a big deal, but also not the kind of thing you want to see when paying $8,000 per hour for legal services,” he said.
Ripple’s Appeal in Jeopardy
The ongoing Ripple vs. SEC appeal faces increased pressure as the Nov. 1 deadline for submitting a crucial acknowledgment form approaches. Moreover, missing this deadline could prevent Ripple’s legal team from presenting their arguments in the high-stakes appeal.
Crypto commentator Amelie noted that failure to meet the court’s requirements within the 14-day extension could result in the dismissal of Ripple’s appeal entirely. This certainly adds to the urgency of the situation. Consequently, Ripple must act swiftly to avoid further damage to its defense.
Missing key deadlines, however minor they may seem, could have serious implications for the company’s defense strategy at this critical stage. As the Ripple vs. SEC case continues, Ripple’s legal team must ensure compliance with court deadlines to avoid further setbacks.
If Ripple’s legal team fails to meet the new deadline, they face the possibility of being blocked from the appeal hearing entirely. This would be the case unless granted special court approval.
For Ripple, a company that has already spent millions on its legal defense, such procedural errors could erode confidence, especially given the high-profile nature of the case. As the Nov. 1 deadline looms, all eyes will be on Ripple’s next move.
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