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A second report from the court-appointed examiner in the FTX bankruptcy cleared Sullivan & Cromwell of a disqualifying conflict of interest in the firms' pre-petition work for Sam Bankman-Fried in his acquisition of Robinhood shares. https://t.co/kauhra1QS5
EXAMINER CLEARS SULLIVAN & CROMWELL OF IGNORING FTX ‘RED FLAGS’ - Examiner Robert Cleary found that law firm Sullivan & Cromwell did not overlook “red flags” related to FTX's misconduct while advising Sam Bankman-Fried on buying Robinhood shares according to an article in The… https://t.co/DxeBWV6sb5 https://t.co/qvUVhMrlkP
JUST IN: FTX CASE EXAMINER FINDS LAW FIRM SULLIVAN & CROMWELL DID NOT IGNORE RED FLAGS WHILE THE CEX WAS UNDER THEIR ADVISEMENT PER THE BLOCK
A second examiner report in the bankruptcy case of FTX Trading has cleared the law firm Sullivan & Cromwell of ignoring red flags related to FTX's misconduct. The report, authored by examiner Robert Cleary, concluded that Sullivan & Cromwell did not overlook any critical signs while advising Sam Bankman-Fried on his $648 million purchase of Robinhood shares. The findings indicate that the firm's legal counsel was valid and that there were no disqualifying conflicts of interest in their pre-petition work for Bankman-Fried. The report also examined a $500 million purchase of stock in Robinhood Markets.
