A litigation boutique known for bringing cryptocurrency lawsuits has settled a dispute with one of its founding partners shortly before the case was set for trial over the partner’s departure from the firm amid a giant crypto payout.
Law firm Freedman Normand Friedland and its former partner Jason Cyrulnik filed a joint stipulation in Manhattan federal court Thursday saying the parties dismissed all claims against each other.
The settlement resolves the case that was scheduled to begin a trial on July 8, which would have decided the competing claims lobbed by the law firm, formerly known as Roche Cyrulnik Freedman, and Cyrulnik, who now is chairman of his own firm, Cyrulnik Fattaruso.
Freedman Normand Friedland had claimed it fired Cyrulnik over his abusive behavior and sought a declaration that it lawfully did so under the terms of a memorandum of understanding it created upon the firm’s formation.
Cyrulnik had pursued claims that his partners removed him to seize his share of a crypto asset the firm received in exchange for legal work it performed for the blockchain startup Ava Labs. The Ava Labs token, AVAX, spiked in value in the months before Cyrulnik’s firing, with the firm’s entire share at one point reaching roughly $130 million.
Randy Mastro, a partner at King & Spalding who represented the Freedman firm and its partners, said the confidential settlement ended all claims between the parties.
“The Freedman team is happy to put this matter behind them and has moved on to the next great chapter, as the firm is thriving and its partners are enjoying practicing together,” Mastro said in a statement.
Marc Kasowitz, a partner at Kasowitz Benson Torres who represented Cyrulnik, did not immediately respond to a request for comment.
Roche Cyrulnik Freedman was founded in 2019 by a group that included defectors from Boies Schiller Flexner.
Another one of its founders, Kyle Roche, was ousted from the firm in 2022 after recordings were made public in which he discussed targeting rivals of a blockchain developer through litigation.
The law firm was also removed from representing plaintiffs in a class action that accuses the crypto exchange Bitfinex and Tether, the issuer of the USDT stablecoin, of market manipulation.
The case is Roche Freedman LLP v. Cyrulnik, S.D.N.Y., No. 21-CV-1746.
Read More: Law Firm, Ex-Partner Settle Suit Over Firing, Crypto Assets
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