FTX Moves To Settle $600M Robinhood Shares Dispute With $14M Payment Amid Bankruptcy Proceedings
Portfolio Pulse from Murtuza Merchant
FTX has filed a motion to settle a dispute over $600 million worth of Robinhood shares by paying $14 million to Emergent Fidelity Technologies. This settlement aims to resolve Emergent's bankruptcy case and facilitate FTX's reorganization efforts. The court will review the motion on October 22.
September 10, 2024 | 12:28 pm
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Robinhood shares are at the center of a $600 million dispute involving FTX and Emergent Fidelity. FTX's $14 million settlement aims to resolve claims over these shares, which were repurchased by Robinhood for $606 million.
The settlement involves Robinhood shares, which were repurchased by the company. While the legal resolution is significant, the direct impact on Robinhood's stock price may be limited as the shares have already been repurchased.
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