To help investors who have recently been scammed with FTX tokens (FTT), the shareholder equity litigation firm Schall Law Firm has taken on the task of investigating investor claims against FTX for violations of securities laws.
It is estimated that more than a million people lost their savings due to financial fraud committed by him Sam Bankman-Fred, CEO, FTX. To help investors legally recoup losses, the law firm plans to investigate FTX for making misleading statements or failing to disclose important information.
In an official statement, Schall Law Firm highlighted how various media publications exposed loopholes within FTX-Alameda’s operations, which ultimately led to the collapse of FTX’s internal FTX token.
The law firm advised all FTT investors to participate in the campaign by sharing information associated with the purchase and sale of FTT tokens. Investors need to know that unless class is upheld — where a court decides a class action is the best option for managing multiple claims — they are not represented by an attorney.
Moreover, crypto entrepreneurs, including executives at Tether and Binance CEO Changpeng ‘CZ’ Zhaobelieve this SBF has been proactively trying to destabilize the crypto market to save ftx.
Related: Sam Bankman-Fried’s parents are no longer on the Stanford Law School student list
FTX recently hired a team of financial forensic investigators to track down lost investor funds. The company’s primary goal is to perform “asset tracking” to locate and recover lost digital assets.
On November 22, a lawyer — James Bromley, partner at law firm Sullivan & Cromwell — representing FTX’s debtors stated that “a significant amount of assets were either stolen or missing” from FTX. Moreover, he revealed that blockchain analysis firms such as Chainalysis have been enlisted to help as part of the measures.
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