The Moskowitz Law Firm, the lead plaintiffs’ counsel, said that it had dismissed Sullivan & Cromwell voluntarily and that no settlement was associated with the dismissal.
FTX investors have voluntarily dismissed their proposed class-action lawsuit against United States law firm Sullivan & Cromwell (S&C).
On Feb. 16, a group of FTX creditors sued the law firm, alleging that it played a role in FTX’s multibillion-dollar fraud and that the company benefitted financially from it. The suit wanted compensation for damages for civil conspiracy, aiding and abetting fiduciary breaches and aiding and abetting fraud.
S&C served as an outside counsel to FTX in several deals and oversees the FTX bankruptcy proceedings.
