Ninth Circuit tosses Sostack v. Ripple; 2013 start triggers 3-year repose bar

The U.S. Court of Appeals for the Ninth Circuit dismissed the Sostack v. Ripple Labs class action, finding the federal securities claims time-barred under the Securities Act's three-year statute of repose. The panel determined the clock began in 2013, when Ripple sold over 500 million XRP, making the filing in 2018 untimely and affirming summary judgment.