{"id":172137,"date":"2023-03-09T09:26:19","date_gmt":"2023-03-09T09:26:19","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172137"},"modified":"2023-03-09T09:26:19","modified_gmt":"2023-03-09T09:26:19","slug":"judge-refuses-to-consolidate-class-action-lawsuits-against-ftx","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/judge-refuses-to-consolidate-class-action-lawsuits-against-ftx\/","title":{"rendered":"Judge refuses to consolidate class-action lawsuits against FTX"},"content":{"rendered":"

A federal judge has refused to consolidate several proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard.\u00a0<\/p>\n

<\/p>\n

On March 8, United States District Judge Jacqueline Scott Corley laid down the order that denied\u00a0plaintiffs a request to consolidate five proposed class-action lawsuits against the bankrupt crypto exchange. Despite no defendants opposing the motion, the judge pointed out that not all defendants had the opportunity to respond yet. The order stated:\u00a0<\/p>\n

\u201cWhile Plaintiffs state that no Defendant has filed an opposition, they offer no declaration attesting that they have met and conferred with Defendants and that they do not oppose consolidation.\u201d<\/p><\/blockquote>\n

Plaintiffs, including Julie Papadakis, Michael Elliott Jessup, Stephen Pierce, Elliott Lam and Russell Hawkins, accused the former FTX CEO Sam Bankman-Fried and other executives of misappropriating assets, filing cases in California. While all the plaintiffs are going after Bankman-Fried, the cases also include various other defendants, including outside auditors and those promoting the exchange. <\/p>\n

Because of this, the judge also pointed out there\u2019s no need to consolidate before hearing the defendants\u2019 side. \u201cThe Court discerns no need to do so now without giving Defendants the opportunity to be heard. And it would be premature to appoint interim class counsel before consolidation,\u201d the order wrote. <\/p>\n

Related: <\/em><\/strong>DOJ seeks to narrow Sam Bankman-Fried\u2019s bail terms, use only flip phones<\/em><\/strong><\/p>\n

Meanwhile, Bankman-Fried\u2019s lawyers have recently signaled that there might be a need to push back the criminal trial scheduled in October. In a letter dated March 8, lawyers representing Bankman-Fried said that while they\u2019re not formally requesting a date change, it may be necessary as they\u2019re waiting for a substantial chunk of evidence to be sent to them. In addition, the lawyers noted that more charges were filed against Bankman-Fried in February. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A federal judge has refused to consolidate<\/p>\n","protected":false},"author":3,"featured_media":172136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJudge refuses to consolidate class-action lawsuits against FTX - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/judge-refuses-to-consolidate-class-action-lawsuits-against-ftx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Judge refuses to consolidate class-action lawsuits against FTX - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"A federal judge has refused to consolidate\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/judge-refuses-to-consolidate-class-action-lawsuits-against-ftx\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-09T09:26:19+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/03\/Judge-refuses-to-consolidate-class-action-lawsuits-against-FTX.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/judge-refuses-to-consolidate-class-action-lawsuits-against-ftx\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/judge-refuses-to-consolidate-class-action-lawsuits-against-ftx\/\",\"name\":\"Judge refuses to consolidate class-action lawsuits against FTX - 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