FTX Faces Class Action Lawsuit for Failed Cryptocurrency

FTX is facing a class-action lawsuit by investors in this cryptocurrency exchange. FTX is seeking a bankruptcy and a liquidation of its assets. The lawsuit claims that FTX, along with other former CEO Sam Bankman-Friend and several celebrities, were responsible for the damage for promoting the exchange before its market collapse earlier this month.

They claim nearly 1 million users who both purchased and/or traded, could face losses of more than $11 billion. It further alleges that the company deceived customers due to its Ponzi-like scheme with customer funds.

The lawsuit was filed in Miami, the city of FTX’s headquarters.  

This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.

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Steve Larson

An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, environmental clean-up litigation, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve’s clients value his creative approach to resolving complex litigation matters.


Legal Disclaimer

The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.