Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Former FTX Executives, Auditors Facing Additional Class Claims

Dec. 5, 2022, 6:51 PM

Sam Bankman-Fried is facing yet another lawsuit by angry FTX customers following the implosion of the cryptocurrency exchange in early November.

A would-be class action filed in the US District Court for the Northern District of California on Dec. 2 is at least the fourth filed against Bankman-Fried since his companies, FTX Trading LTD and FTX US, froze all customer withdrawals.

Plaintiff and proposed class representative Russell Hawkins claims that he and tens of thousands of others who deposited funds into yield-bearing accounts with FTX entities were told that their assets wouldn’t be transferred to FTX Trading.

Hawkins later learned ...