The class action lawsuits against the former co-founder of FTX, Sam Bankman-Fried, may withdraw their claims in the future. Bloomberg disclosed a proposed settlement, under which Bankman-Fried agreed to share key information with the authorities on who you probably know: celebrities who endorsed FTX.
FTX investors consider dropping claims against co-founder Sam Bankman-Fried in a proposed settlement.
FTX investors may drop claims against the company's co-founder and former CEO, Sam Bankman-Fried, in return for his support. Bloomberg reported on April 19 that, under a proposed settlement, Bankman-Fried would cooperate against celebrity promoters named as defendants in a $1.3 million civil lawsuit.
Affected investors of FTX Derivatives Exchange have moved to drop some of the claims levied against Sam Bankman-Fried, the former CEO of the trading platform, a move that has a condition attached to it. Celebrities Implicated In the FTX Case This group of investors filed a settlement on Friday in a federal court in Miami,
Subject to approval, the proposed settlement would resolve a civil suit between the former FTX CEO and users seeking recourse for losses during the fall of the crypto exchange.
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