Fenwick & West Agrees to $54 Million Settlement Over FTX Customer Claims

Fenwick & West, the Silicon Valley law firm that served as FTX's outside counsel, has agreed to pay $54 million to settle customer claims alleging the firm helped enable Sam Bankman-Fried's fraud, according to a federal court filing in Miami. The settlement, filed before U.S. District Judge K. Michael Moore, forms the largest part of the second wave of FTX class-action settlements. Auditor Prager Metis agreed to pay $11.75 million, while former NBA player Udonis Haslem agreed to pay $420,000. The agreement does not amount to an admission of liability and still requires preliminary court approval to proceed.
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