Law firm Fenwick & West denies accusations from a class-action lawsuit linking it to the FTX crypto exchange fraud. Users sought to update the suit, alleging Fenwick played a crucial role. The firm argues the claims are baseless. The lawsuit involves a bankruptcy case from late 2022. Celebrities and companies named in the suit include Sullivan & Cromwell, which was later removed due to lack of evidence.

Fenwick claims the updated complaint is untimely and misleading. The allegations are said to be based on stale information. The firm believes the accusations are similar to those used against Sullivan & Cromwell, which were dismissed. Fenwick contends that the claims lack credibility and should not survive against them.

Fenwick refutes claims that it helped hide misuse of customer funds and improper loans during FTX co-founder Sam Bankman-Fried’s trial. The firm states that Fenwick only advised on structuring founder loans. Dozens of witnesses testified that the fraud was carried out without the knowledge of many FTX employees and professionals, including Fenwick.

Fenwick rejects new securities claims that it promoted the FTX Token (FTT) in violation of securities laws. The firm deems the claims as far-fetched and untimely. It accuses the plaintiffs of trying to evade a court ruling by adding new allegations. Fenwick believes the attempt to recast lawyers as promoters will not succeed.

Read more at Cointelegraph: Fenwick Denies Lawsuit Claiming It Helped FTX Fraud