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...
FTX filed for bankruptcy last month and a restructuring officer has taken charge of the company to manage the bankruptcy proceedings. The high-profile collapse of FTX led to congressional hearings and a class-action lawsuit from former investors....
Kuvari replied in a May 29 X post, claiming he would “be happy to chat” with Salame about potentially joining the lawsuit.Follow us on Google News Trending News Price PredictionsRecommended ArticlesTrump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’ Trump Expected ...
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 ...
The class action lawsuit concerned alleged cybersecurity failures on the part of Coinbase and seeks to compensate customers who allegedly had their accounts breached and “incurred losses arising from the unauthorized transfer of assets.” In the filing, the plaintiff alleged he had $6,000 of ...
Plaintiffs in the lawsuit included a coalition of energy companies and unions representing fossil fuel workers. /jlne.ws/45WDmO2 South Korea Reportedly Seeks Temporary Ban on Stock Short Sales Youkyung Lee – Bloomberg South Korea’s government will seek a temporary ban on stock short-selling ...