TechFlow news — The parents of former FTX CEO SBF are seeking to dismiss the lawsuit filed against them by FTX, denying allegations that they were aware of problems at the cryptocurrency exchange or profited improperly from the company's misconduct.
According to court filings, lawyers for Joseph Bankman and Barbara Fried argued that FTX's lawsuit attempts to exploit the fact that they are the parents of the former FTX CEO. They rejected the claim that Bankman had a fiduciary relationship with FTX, and stated that even if such a relationship existed, the plaintiffs have failed to adequately allege a breach.
Previously, FTX's lawsuit alleged that Bankman and Fried used their access and influence within FTX to profit at the expense of creditors in FTX’s bankruptcy estate.
