Coin Gabbar Token

<h2 id="header-0">Key Takeaways</h2><ul><li>There are multiple class-action lawsuits filed against #FTX, a #cryptocurrency exchange</li><li>Plaintiffs requested the consolidation of these #lawsuits into one case</li><li>A federal judge denied this request, meaning the #lawsuits will continue as separate cases</li></ul><h3 id="federal-judge-rules-against-consolidation-of-ftx-class-action-lawsuits">Federal Judge Rules Against Consolidation of #FTX Class-Action Lawsuits</h3>The legal battle between investors and the bankrupt #FTX exchange took an unexpected turn on March 8, as United States District Judge Jacqueline Scott Corley denied the plaintiffs&#39; request to consolidate five proposed class-action #lawsuits against the exchange.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9ce82411aa494f968854ea20c9da689e.png" />While no defendants opposed the motion, the judge noted that not all defendants had the opportunity to respond yet, and emphasized the importance of due process and fairness in legal proceedings.The cases involve several plaintiffs accusing former <a href="https://www.coingabbar.com/en/crypto-blogs-details/were-ftx-funds-insured-understanding-ftx-insurance-amidst-bankruptcy" rel="noopener noreferrer nofollow">FTX</a> CEO #Sam Bankman-Fried and other executives of misappropriating assets, along with other defendants such as outside auditors and exchange promoters.However, the judge has stated that it would be premature to appoint interim class counsel before consolidation and that the defendants must be given the opportunity to be heard.This decision has significant implications for both investors and the #exchange, as it means that the case will continue to be heard on a case-by-case basis. Despite the setback, investors remain hopeful that justice will be served, and are calling for greater transparency and accountability in the #crypto industry.This case could be a step in that direction, as all eyes will be on the #FTX exchange and its defendants to see how they respond to the allegations against them.Meanwhile, <a href="https://www.coingabbar.com/en/crypto-currency-news/ftx-founders-lawyers-seek-trial-delay-over-missing-evidence" rel="noopener noreferrer nofollow">Bankman-Fried&#39;s lawyers</a> have hinted that the criminal trial scheduled for October may need to be postponed. They cited waiting for a substantial amount of evidence to be sent to them and the filing of more charges against their client in February.In conclusion, the ongoing legal battle between investors and the #FTX exchange has taken a new turn as the judge denied the plaintiffs&#39; request to consolidate the cases. This decision underscores the importance of due process and fairness in legal proceedings.Investors remain hopeful for justice and greater transparency in the #crypto industry, while #Bankman-Fried&#39;s lawyers have hinted at the possibility of postponing the criminal trial. As the case continues, all eyes will be on the defendants to see how they respond to the allegations against them.Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/bafin-addresses-legal-classification-of-nfts-as-potential-securities-in-germany" rel="noopener noreferrer nofollow">BaFin addresses legal classification of NFTs as potential securities in Germany</a>

Federal Judge Denies Request to Consolidation of FTX Class-Action Lawsuits

Table of Contents

Coingabbar

Other articles published on Mar 10, 2023

Huobi’s HT token drops 93% in minutes, bounces back just as fast

Top 3 DeFi Protocols in Polygon

24 Hrs Crypto Update, Mar 8: "Is the two-month rally in the market coming to an end?"

Explained: What you should know about newly-listed CryptoGPT (GPT) coin

Bitcoin Price Bears Keep Pushing, Why Drop To $20K Is Still Possible

Mt. Gox Bitcoin Whale Fund Plans to HODL After Choosing September Payout

Join our free newsletter for daily crypto updates!