Law Firm Agrees to Pay $54 Million in FTX Litigation Settlement

Fenwick & West LLP has agreed to pay $54 million to settle class-action claims related to the FTX crypto exchange collapse.

The law firm allegedly provided legal and strategic advice to FTX entities before its implosion, which led to a significant loss of investor funds.

As part of the settlement, Fenwick will deposit $54 million into an escrow account within 120 days after preliminary court approval. The settlement amount will be used for investor compensation, administrative expenses, and any court-approved legal fees.