NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of purchasers of FTX Tokens (FTT).
SO WHAT: If you purchased FTX Tokens (FTT) you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=9705 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On November 2, 2022, Coindesk published an article entitled “Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet” which revealed alleged issues with Alameda Research and FTX’s close relationship and Alameda Research’s large FTT holdings.
Then, November 6, 2022, Binance’s Chief Executive Officer, Changpeng Zhao announced on Twitter that Binance would liquidate its FTT holdings “[d]ue to recent revelations that have come to light[.]”
On November 8, 2022, The Wall Street Journal published an article entitled “Binance’s Deal for Rival FTX Marks Power Shift Amid Crypto Turmoil” which discussed Binance’s non-binding agreement to purchase FTX amid FTX’s “sudden liquidity crunch”.
Then, on November 9, 2022, The Wall Street Journal published an article entitled “Binance Walks Away From Deal to Rescue FTX” which discussed the deal falling through which left FTX with “a shortfall of up to $8 billion, according to people familiar with the matter.”
On November 10, 2022, The Wall Street Journal published an article entitled “SEC, DOJ Investigating Crypto Platform FTX” which discussed the newly known investigations.
On the above news, the price of FTT has fallen sharply on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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