Three defendants in the FTX class action have agreed to a tentative settlement. While YouTube phenomena were among the defendants, the terms of the settlement were not disclosed in the file.
FTX defendants reached a settlement
Jacksonville Jaguars quarterback Trevor Lawrence, along with YouTube influencers Keven Paffrath and Tom Nash, reached the proposed settlement in the FTX class-action lawsuit. No details or settlement terms were disclosed in the filing.
Additionally, the attorney for the class action lawsuit stated that they are “engaged in ongoing confidential, settlement discussions with other FTX defendants.”
On the other hand, mediation dates have been set for October and November, and the lawyers announced that they intend to file “Petitions to Dismiss the Case” in the near future.
In another filing, attorneys representing the plaintiffs filed a notice of voluntary dismissal of Ben Armstrong. Armstrong was accused in April of harassing lawyers involved in the case.
If settlements move forward, attorneys will file to schedule a Request for Preliminary Approval on January 5. Settlement filings, former CEO of FTX Sam Bankman-Fried It attracted attention because it came a few weeks before the court appearance on October 3. Bankman-Fried also pleaded not guilty to seven fraud and conspiracy charges last month.
What happened?
In addition to Nash, Paffrath and Jackson, a number of celebrities, including Tom Brady, Shaquille O’Neal, Gisele Bundchen and Larry David, were named in class-action lawsuits filed following the collapse of FTX. The cases were consolidated for trial before a federal judge in Miami.
A class-action lawsuit was also filed against Steph Curry and the NBA’s Golden State Warriors in July. The plaintiffs had alleged that the Warriors and Curry were involved in a conspiracy that “substantially aided or encouraged abuses by FTX Group.”
