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New York Law Journal

New York Attorney General Sues Over Alleged $1 Billion Crypto Fraud

The lawsuit, filed in Manhattan state court, claims the defendants preyed on people's faith, focusing on Haitian and other immigrant communities. Victims were targeted through prayer groups and through social media, sometimes in Creole, according court papers.
3 minute read

Daily Business Review

FTX Investors Object to Disclosure Statement's Alleged Undervaluing of Crypto, Omitting Investigation Into Am Law 100 Firm

"It is extraordinary that in this case, there were so many important details that were not included in the disclosure statement that are key to the ultimate decision of whether you approve the plan or not," said Adam Moskowitz, managing partner at the Moskowitz Law Firm.
5 minute read

New York Law Journal

Article 12 Amendments to UCC Can Fix 'Fatal Flaws' of Laws Governing Digital Assets

Updating the NY UCC will further New York's well-established policy of encouraging New York choice of law and jurisdiction in commercial contracts and will help facilitate ever-growing electronic commerce in New York.
8 minute read

The Recorder

Coinbase Hit With New Securities Class Action Amid Battle With SEC

A proposed class action, filed by Rosen Law Firm, accuses the crypto exchange company Coinbase of selling unregistered digital asset securities on its platform and failing to register the company as a broker-dealer with the SEC and state regulators.
3 minute read

Daily Business Review

Miami Litigators Revive 9-Figure Lawsuit Against NASCAR Over 'Let's Go Brandon' Coin

"There's a tendency to treat crypto and meme coins as a joke where they don't need to be taken seriously," said Joe Delich, a partner at Freedman Normand. "But they're a real product."
4 minute read

Daily Business Review

SEC Ordered to Pay New York and Am Law 100 Firms $1.2M in Attorney, Receivership Fees

The fallout from the litigation led to two U.S. Securities and Exchange Commission attorneys resigning from the agency.
4 minute read

New York Law Journal

'Astonishing': Kaplan Sentences FTX Executive to 7.5 Years for Role in Campaign Finance Fraud

Prosecutors asked that Ryan Salame receive a sentence of five to seven years, while defense counsel from Mayer Brown argued that a lower sentence of 18 months would be appropriate.
4 minute read

The American Lawyer

FTX Examiner Clears S&C, Questions Fenwick's Knowledge of Fraud

A court-appointed examiner cleared Sullivan & Cromwell of allegations that the law firm was aware of the fraud as it handled 20 matters for FTX before its bankruptcy filing.
4 minute read

Litigation Daily

Litigators of the Week: Cleary Helps Crypto Lender Genesis Settle With NYAG, Win Approval for Reorganization Plan

Sean O'Neal, Tom Kessler, and Jane VanLare of Cleary Gottlieb Steen & Hamilton helped Genesis win approval for the settlement of the AG's Martin Act claims and its plan of reorganization, where dollar creditors are estimated to receive 100% of their claims and cryptocurrency creditors have estimated average recoveries of 77% on an in-kind basis.
5 minute read

New York Law Journal

Feds Seek 5 to 7 Years for Ex-FTX Executive in Campaign Finance Fraud Case

Ryan Salame's attorneys from Mayer Brown asked U.S. District Judge Lewis Kaplan to impose a sentence of no more than 18 months, arguing that he was not part of FTX founder Sam Bankman-Fried's inner circle.
4 minute read

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