Three defendants reach tentative settlements in FTX class action suit

According to the filing, other defendants are engaged in settlement discussions

article-image

NFL QB Trevor Lawrence | April Visuals/Shutterstock modified by Blockworks

share

Jacksonville Jaguars quarterback Trevor Lawrence, alongside YouTube influencers Keven Paffrath and Tom Nash, reached proposed settlements in the FTX class-action lawsuit, according to court documents filed on Friday.

No details or settlement terms were disclosed in the filing.

In addition, the counsel for the class action noted that they’re “engaged in ongoing confidential, settlement discussions with additional FTX defendants.”

Mediation dates are set for October and November, and lawyers revealed their intention to file Motions to Dismiss soon.

In a separate filing on Friday, attorneys representing the plaintiffs filed a notice of voluntary dismissal of Ben Armstrong. Armstrong, in April, was accused of harassing attorneys involved in the suit.

If the settlements move forward, the counsel plans to submit a filing on Jan. 5 seeking to schedule a Motion for Preliminary Approval.

In addition to Nash, Paffrath and Jackson, a number of celebs including Tom Brady, Shaquille O’Neal, Gisele Bundchen and Larry David were named in class action suits following the collapse of FTX. The suits were consolidated in Miami before a federal judge.

A class action suit was also filed against Steph Curry and the NBA’s Golden State Warriors in July. Plaintiffs claim that the Warriors and Curry engaged in a conspiracy that “​​substantially assisted or encouraged the wrongdoing conducted by the FTX Group.”

The settlement filings come just weeks before FTX’s former CEO Sam Bankman-Fried is set to stand trial on Oct. 3. Bankman-Fried faces fraud charges in relation to the collapse of FTX last year. 

Additionally, Bankman-Fried pleaded not guilty to seven fraud and conspiracy charges last month.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

REPORT_Template.png

Research

The Sonic blockchain is leveraging redesigned airdrop incentives and its FeeM program to propel DeFi activity and attract institutional capital, setting the stage for ecosystem growth. Within this environment, leading protocols Shadow Exchange and Silo are poised to asymmetrically benefit due to innovative features and favorable valuations, despite facing ecosystem dependency and competitive pressures. This positions them as compelling, potentially shorter-term, investment opportunities contingent on Sonic's sustained success.

article-image

Sponsored

WalletConnect is the default for secure, scalable onchain interaction — but this isn’t a peak, it’s the launchpad

article-image

Circle’s stock is expected to price at $31 and will go public on the NYSE Thursday

article-image

Solana’s most prolific token-launch tool might be prepping a token of its own

article-image

The tentative agreement China and the US penned last month appears to be in a precarious position

article-image

Fineqia’s Matteo Greco says Circle’s targeting a valuation in line with market expectations to avoid a post-launch drop like Coinbase

article-image

The President’s son reportedly said his family may pursue legal action