Ontario Teachers’ Pension Plan (OTPP) is facing a lawsuit accusing the fund of insufficient due diligence when investing $95 million in the cryptocurrency exchange FTX. The plaintiff claims that OTPP failed to assess the risks associated with the company’s management and security, which led to significant losses following the bankruptcy of FTX. OTPP denies the accusations, stating that the investments were minimal and strategic, with proper due diligence conducted. The fund's contribution was part of their strategy to invest in promising fintech startups.
1/18/2025 12:25:12 PM (GMT+1)
Ontario Teachers’ Pension Plan (OTPP) is facing a lawsuit for failures in due diligence when investing $95 million in FTX, accusing the fund of underestimating the management and security risks of the crypto exchange ⚖️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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