Sostack

NOT FOR PUBLICATION FILED

UNITED STATES COURT OF APPEALS JAN 27 2026

MOLLY C. DWYER, CLERK

U.S. COURT OF APPEALS

FOR THE NINTH CIRCUIT

IN RE: RIPPLE LABS, INC. LITIGATION Nos. 24-7599 & 25-483 BRADLEY SOSTACK, Lead Plaintiff on D.C. No. Behalf of Himself and the Federal and 4:18-cv-06753-PJH California State Securities Claims Classes,

MEMORANDUM*

Plaintiff-Appellant,

v.

RIPPLE LABS, INC., XRP II, LLC, and

BRADLEY GARLINGHOUSE,

Defendants - Appellees.

Appeal from the United States District Court for the Northern District of California Phyllis J. Hamilton, District Judge, Presiding

Argued and Submitted December 4, 2025 San Francsico, California

Before: RAWLINSON, MILLER, and SANCHEZ, Circuit Judges.

Lead Plaintiff Bradley Sostack (Sostack) appeals the district court’s order

granting summary judgment in favor of Defendants-Appellees Ripple Labs, Inc.

* This disposition is not appropriate for publication and is not precedent except as provided by Ninth Circuit Rule 36-3. and its affiliates (Ripple) on Sostack’s federal securities claims. The district court

held that the three-year…