FTX creditors are seeking damages against the law firm Sullivan & Cromwell for its prior involvement with the crypto exchange.
FTX bankruptcy case has unfolded to a new chapter as the exchange’s creditors have filed a class-action lawsuit against the law firm overseeing the case.
In a court filing on Feb. 16, FTX creditors alleged that law firm Sullivan & Cromwell, also known as S&C, “actively” participated in the “FTX Group’s multibillion dollar fraud,” asserting that the company benefited financially from FTX’s fraud.
The lawsuit seeks damages for a number of counts, including civil conspiracy, aiding and abetting fraud, and aiding and abetting fiduciary breaches.
