Fenwick & West settles FTX customer claims for $54 million
Fenwick & West, a big US law firm, has agreed to pay $54 million to settle claims from FTX customers.
The lawsuit said Fenwick helped shape strategies behind the massive FTX fraud, one of the biggest ever.
The deal was filed in Miami federal court and still needs a judge's approval.
Fenwick denies involvement in FTX fraud
Fenwick insists it wasn't involved in any fraud and didn't know what was happening at FTX.
Fenwick said in a statement, "was not aware of the fraud at FTX, stands by the integrity of its legal work, and disputes wrongdoing of any kind, as we have consistently stated throughout this matter."
This settlement helps avoid a long legal battle and follows earlier deals with former FTX executives, plus founder Sam Bankman-Fried's 25-year prison sentence for an $8 billion scam.