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FTX Investors and SBF Strike Deal for Endorsement Lawsuits

FTX Investors and SBF Strike Deal for Endorsement Lawsuits
FTX Investors and SBF Strike Deal for Endorsement Lawsuits

FTX investors have reached an agreement with the former CEO, Sam Bankman-Fried, to end their legal disputes in exchange for his cooperation in their lawsuits against celebrity endorsers of FTX.

The settlement proposes to resolve all claims against Bankman-Fried released by FTX investors. As part of the deal, Bankman-Fried will offer testimony and documents to help the class action against FTX and facilitate victim recovery. These documents include details of his investments and connections with celebrities.

The suit also targets celebrities who promoted FTX's controversial Yield-Bearing Accounts (YBAs). Plaintiffs claim these endorsements contributed to investor losses when FTX halted customer withdrawals.

The list of defendants includes the prestigious law firm Sullivan & Cromwell (S&C). C

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