Fenwick&West pays $540 million to settle FTX lawsuit

According to reports, Silicon Valley law firm Fenwick&West will pay $540 million to settle a lawsuit filed by FTX clients. The plaintiff accuses the law firm of assisting Sam Bankman Fried in committing fraudulent acts. The settlement is part of FTX's second round of settlement, with audit firm Prager Metis paying $118 million and former NBA player Udonis Haslem paying $4.2 million. Fenwick denies any wrongdoing, but still faces an independent lawsuit in Washington state worth $525 million, which is not covered by this settlement.