FTX attorneys are suing former CEO Sam Bankman-Fried, co-founder Zixiao Wang and former senior govt Nishad Singh over the $220 million acquisition of inventory clearing platform Embed, alleging an absence of due diligence.
In accordance in a Could 17 submitting, FTX had paid $220 million to purchase Embed by way of its American subsidiary after supposedly “performing virtually no due diligence” on the platform.
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