PANews reported on February 3 that FTX users and the law firm Fenwick & West have reached a settlement agreement in a 2023 class-action lawsuit that accused Fenwick of playing a key role in FTX's fraudulent activities. Both parties have filed joint documents in the Florida federal court and plan to submit the settlement agreement for court approval on February 27.

The lawsuit alleges that Fenwick assisted FTX in designing a corporate structure to circumvent fund transfer registrations and was aware of the commingling of funds between FTX and Alameda Research. Fenwick had previously attempted to dismiss the lawsuit, but the court allowed the case to proceed in November 2025. The settlement terms have not yet been disclosed, and the litigation is currently suspended pending further approval.