The former law firm and auditing firm of FTX agreed to pay approximately $66 million to settle client claims of fraud.

On May 24th, The Block reported that court documents reveal Fenwick & West, the Silicon Valley law firm that acted as lead outside legal counsel for the FTX US exchange prior to its 2022 collapse, has agreed to pay $54 million to settle allegations of assisting Sam Bankman-Fried in committing fraud. This settlement is part of a second tranche of settlements with FTX, which also includes $11.75 million from auditor Prager Metis and $420,000 from former NBA player Udonis Haslem. The second tranche of FTX class-action lawsuit settlements totals approximately $66.17 million. Fenwick denies any wrongdoing and still faces a separate $525 million lawsuit in Washington, which was not resolved by this settlement.