FTX creditors have voluntarily dropped a class action lawsuit against U.S. law firm Sullivan & Cromwell (S & C).
On February 16, a group of FTX creditors sued the law firm, alleging that it had financially benefited from its role in FTX's multibillion-dollar fraud. The lawsuit seeks damages for civil conspiracy, aiding and abetting breach of fiduciary duty, and aiding and abetting fraud.
S & C served as external counsel on multiple FTX transactions and was responsible for overseeing FTX's bankruptcy proceedings.
FTX creditors withdraw class action lawsuit against law firm Sullivan & Cromwell
2024-10-10 08:25:40
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