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BlockFi, a newly bankrupt company, has sued Emergent Fidelity Technology of the SBF to recover Robinhood shares.
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Emergent Fidelity Technologies filed a New Jersey court complaint seeking his shares in Robinhood, which were pledged earlier in November as collateral.
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The court found that Emergent Fidelity Technologies Ltd had failed to fulfill its obligations under a Nov.9 pledge agreement.
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The court documents show that Emergent guaranteed the payment of Alameda Research Ltd's obligations, a crypto hedge fund associated with FTX, according to court documents.
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SBF's 7.6% share in Robinhood, an investment and trading platform, is the collateral.
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According to Eikon data, Emergent has a 7.42% stake in Robinhood.
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Bankman-Fried was not named as a suspect in this lawsuit.
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