FTX had pledgedto segregate customer accounts and instead allowed them to be misappropriated and therefore customers should be repaid first, according to the lawsuit filed in U.S. Bankruptcy Court in Delaware. "Customer class members should not have to stand in line along with secured or general...
FTX investors filed a class action lawsuit against FTX and its celebrity endorsers on Nov. 15, 2022. Thecivil suit claimedFTX used "false representation and deceptive conduct." The lawsuit also accused FTX of using a Ponzi scheme to misuse funds and move customer money between entities. How th...
A class-action lawsuit against Silvergate Bank, Silvergate Capital Corporation and Silvergate CEO Alan Lane was filed at the California Southern District Court concerning accounts held by embattled crypto companies FTX and Alameda Research. The suitaimsto hold Silvergate accountable for its alleged roles ...
Meanwhile, celebrity boosters of FTX -- including Naomi Osaka, Shaquille O'Neal and Kevin O'Leary -- were sued in federal court in a class-action lawsuit alleging that false representations of a deceptive product were used to dupe vulnerable investors. ...
O'Neal is the only defendant in the class-action lawsuit who has not been served, attorneys alleged in a motion requesting permission to serve the "Inside the NBA" analyst electronically. The motion claims that a process server has attempted to serve O'Neal dozens of times at both his Texas...
Class action lawsuit filed against prominent VCs This lawsuit details how the defendants, which include industry knowns such as Temasek, Sequoia Capital, and Sino Global, used their influence and financial standing to help launch FTX and enable the multibillion-dollar disaster that affected countless ...
save save some creditors of the bankrupt crypto exchange ftx are preparing to reject a plan that would see them recover 118 percent of the money they lost. the proposal is far less generous than it might seem, they claim. starting in january, the ftx creditors began to form a voting ...
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