Fenwick & West asked a Florida federal judge to dismiss new claims in the Fenwick FTX lawsuit, calling allegations of enabling customer fund misuse and FTT promotion untimely and without factual basis, and arguing testimony cited by plaintiffs actually describes routine legal work.
Fenwick says the amended claims are untimely and futile, denying wrongdoing.
Plaintiffs rely on Nishad Singh testimony and new FTT securities allegations.
Plaintiffs added securities claims after similar suits persisted against third parties; court decision pending.
Fenwick FTX lawsuit: Fenwick seeks dismissal of new investor claims; read the ruling timeline and next steps. Learn more via COINOTAG.
Fenwick asked a Florida judge to dismiss new FTX fraud claims, calling investor allegations of fund misuse and FTT promotion untimely and false.
Fenwick & West has asked a Florida federal judge to dismiss an attempt by victims of the collapsed FTX exchange to add new claims against the firm. The law practice labeled accusations that it knowingly enabled the misuse of customer funds as “an irresponsible falsehood.”
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Fenwick FTX lawsuit allegations center on whether Fenwick knowingly aided misuse of FTX customer funds and assisted promotion of FTT. Fenwick says proposed amendments are untimely and rest on long-available information, maintaining its role was limited to routine legal services rather than facilitating fraud.
The new complaint cites testimony from Nishad Singh, FTX’s former lead engineer, about founder loans. Fenwick counters that Singh described ordinary corporate loan structuring, not evidence that lawyers assisted in hiding misuse of customer funds. During related proceedings, dozens of witnesses testified the fraud occurred without knowledge of in-house counsel or external advisors.
Plaintiffs added FTT securities claims, alleging Fenwick assisted in launching and promoting the token in violation of state securities laws. Fenwick dismissed these counts as “frivolous” and belated, noting similar claims previously targeted other advisers and celebrity endorsers and were later litigated or dismissed. Fenwick argues plaintiffs present no new evidence tying the firm to securities violations.
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Source: https://en.coinotag.com/fenwick-seeks-dismissal-of-new-ftt-securities-and-fund-misuse-allegations-in-ftx-case/