Law Firm Fenwick Agrees to Pay $54 Million in Settlement over FTX Work
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11 Articles
Law firm Fenwick agrees to pay $54 million in settlement over FTX work
Former FTX Legal Advisor Fenwick & West Settles Lawsuit for $54M - Invest In Crypto News
Fenwick & West LLP, the principal law firm that advised former cryptocurrency exchange FTX, agreed on Friday to pay $54 million to settle a 2023 class action lawsuit, filed by former customers of the defunct exchange. The plaintiffs allege that Fenwick “facilitated FTX’s fraud” by playing “a key and crucial role in the most important aspects of why and how the FTX fraud was accomplished,” according to the original complaint. Plaintiffs argue th…
According to ChainCatcher, citing The Block, Fenwick & West, FTX's former lead outside law firm, has agreed to pay $54 million to settle claims that it helped facilitate the Sam Bankman-Fried fraud case. Additionally, auditing firm Prager Metis agreed to pay $11.75 million, and former Miami Heat player Udonis Haslem, as a former FTX promoter, will pay $420,000, bringing the total to approximately $66 million. This settlement marks the second rou…
FTX Customers Secure $54 Million Deal With Fenwick & West
Why Is Fenwick Settling FTX Customer Claims? Fenwick & West, the Silicon Valley law firm that served as FTX US’s main outside counsel before the exchange collapsed in 2022, has agreed to pay $54 million to settle customer claims alleging that the firm helped enable Sam Bankman-Fried’s fraud. The settlement was filed in federal court in Miami before U.S. District Judge K. Michael Moore and forms the largest part of a second wave of FTX class-acti…
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