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Former FTX law firm Fenwick West seeks dismissal of class action lawsuit filed by FTX clients
2023-09-22 06:23
Odaily News FTX’s former law firm Fenwick West has denied accusations of assisting FTX in its alleged fraud. The law firm has filed a motion to dismiss the lawsuit, claiming that the services it provided to FTX were standard legal services and that it had no knowledge of any fraudulent activity. It is reported that this is the first time the law firm has publicly defended charges related to FTX and its co-founder SBF. (Cryptonews) According to previous news in August, Fenwick West was subject to a class action lawsuit, accusing it of helping FTX complete a multi-billion dollar fraud. The lawsuit, filed on Aug. 7 by a group of FTX clients, alleges that Fenwick West provided services to FTX that went far beyond what a law firm should and typically provide, such as organizing FTX US in a manner that circumvented regulatory scrutiny. The acquisition provides staff to execute the law firms strategy. The “shadow entities” referred to in the lawsuit are North Dimension and North Wireless Dimension, accusing them of misappropriating funds from FTX customers.