According to ME News, on May 24 (UTC+8), court documents revealed that Fenwick & West, a Silicon Valley law firm that served as FTX US’s primary external legal counsel prior to its collapse in 2022, has agreed to pay $54 million to settle allegations that it assisted Sam Bankman-Fried in carrying out fraud. This settlement is part of the second batch of FTX settlements, which also include Prager Metis, the auditing firm, paying $11.75 million and former NBA player Udonis Haslem paying $420,000. The total amount of the second batch of FTX class action settlements amounts to approximately $66.17 million. (Source: ODAILY)
The settlement amount for the second batch of class-action lawsuits against FTX is approximately $66.17 million.
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Summary
Fenwick & West has agreed to a $54 million payment under CFTC guidelines as part of the second FTX class-action settlement. The batch also includes $11.75 million from Prager Metis and $420,000 from Udonis Haslem. With BTC as a hedge against inflation remaining a key topic, the total settled amounts reached $66.17 million. Court documents show the law firm assisted Sam Bankman-Fried in alleged fraud. The settlements continue to unfold amid regulatory scrutiny.
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