According to SolanaFloor (@SolanaFloor), the law firm Fenwick & West has reached a preliminary settlement of $540 million in a class-action lawsuit brought by former FTX customers, who accused the firm of assisting Sam Bankman-Fried in executing billions of dollars in fraud. Fenwick & West denies any wrongdoing as part of the settlement. However, the firm still faces another $525 million lawsuit filed by international investors, who allege it played a key role in building the now-collapsed FTX exchange. Legal proceedings related to FTX are ongoing.
Fenwick & West Reaches $54 Million Settlement in FTX Lawsuit, Still Faces $525 Million in Claims
TechFlowShare
Summary
Fenwick & West has secured a $54 million preliminary settlement in a class-action lawsuit brought by FTX clients, who accused the firm of assisting Sam Bankman-Fried in a major fraud. The firm denies any wrongdoing. Meanwhile, it still faces a $525 million claim from international investors under MiCA, who allege it helped build FTX. Legal proceedings continue as CFT regulations come under increasing scrutiny.
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