Sam Bankman-Fried, founder and chief executive officer of FTX. (Photo: Ting Shen/Bloomberg) Sullivan & Cromwell, Fenwick & West Trim FTX Relationship From Sites
Both firms had previously advised the cryptocurrency trading platform on transactional work.
November 14, 2022 at 03:34 PM
3 minute read
Law Firm Client Relationships
Am Law 100 firms Sullivan & Cromwell and Fenwick & West have removed promotional materials from their websites that stated a client relationship with FTX over the last week, a tumultuous interval that saw the cryptocurrency trading platform file for bankruptcy.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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