Fenwick & West, Prager Metis Agree to Pay $66 Million to Settle FTX Fraud Claims

According to a court filing on Friday, Fenwick & West, the Silicon Valley law firm that served as FTX US's principal outside counsel before the exchange's 2022 collapse, agreed to pay $54 million to settle claims that it helped enable Sam Bankman-Fried's fraud. Auditor Prager Metis agreed to pay $11.75 million, and FTX promoter Udonis Haslem committed $420,000 to the settlement.

Fenwick rejected allegations of wrongdoing in a statement, saying it "was not aware of the fraud at FTX, stands by the integrity of its legal work, and disputes wrongdoing of any kind." The three settlements represent the second wave of class action resolutions, following preliminary court approvals of 15 defendants between December 2024 and July 2025. Fenwick continues to face a separate $525 million civil suit in Washington, D.C., which is not resolved by Friday's agreement.