Banking
May 15, 2024
Bank accused of helping FTX fraud scheme fights to dismiss class complaint
Silvergate Bank's counsel argued U.S. District Judge Ruth Bermudez Montenegro erred in her negligence law analysis that denied the defense's bid to drop the suit.
Counsel representing a putative class of former customers of the bankrupt cryptocurrency exchange FTX argued a San Diego federal judge did not err in her decision to keep alive claims that Silvergate Bank helped FTX founder Sam Bankman-Fried execute a multi-billion dollar fraud scheme.
In a motion to reconsider the ruling, or alternately certify interlocutory review, the bank's counsel argued U.S. District Judge Ruth Bermudez Montenegro erred in her negligence law analysis tha...
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