Schall Law Firm is now investigating potential claims against FTX for violations of securities laws.
If it is found that FTX misled investors, failed to disclose important information, or deceived investors, the firm plans to pursue legal action against the company on behalf of duped investors.
The firm is committed to helping the one million people who have lost their life savings regain some of their losses.
Schall Law Firm pointed out how various media outlets had exposed the flaws in FTX-Alameda’s operations, resulting in the collapse of its in-house FTT tokens.
The firm urged all FTT investors to join the class action by providing details of their purchase and sale of FTT tokens. It noted, however, that investors do not have the representation of an attorney unless the class is certified by the court (as the most viable option to handle the various claims).
In addition to this, crypto entrepreneurs such as Tether executives and Binance CEO Changpeng ‘CZ’ Zhao believe that SBF was actively attempting to destabilize the crypto market in order to salvage FTX.
To this end, FTX has hired a team of financial forensic investigators to carry out asset-tracing in order to recover the missing digital assets.