"Partners exit crypto plaintiffs' firm to launch new law firm"

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Partners exit crypto plaintiffs' firm to launch new law firm

By David Thomas July 17, 2023 6:11 PM EDT · Updated a year ago

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(Reuters) - Two partners have left the cryptocurrency-focused plaintiffs' law firm previously known as Roche Freedman to start their own law firm, Dynamis, they said on Monday.

Eric Rosen and Constantine Economides were partners at Freedman Normand Friedland, which changed its name in October from Roche Freedman after co-founder Kyle Roche left following allegations that he misused investor lawsuits to aid a client. Roche has claimed

he was the victim of an elaborate setup.

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Before joining the Freedman firm, Rosen led the U.S. investigation into the "Varsity Blues" college admissions scandal as a federal prosecutor in Boston.

Economides has previously worked at law firms Greenberg Traurig, BakerHostetler and Robbins Geller Rudman & Dowd. At BakerHostetler, he was part of a team that helped recover billions of dollars for victims of Bernie Madoff's Ponzi scheme.

Rosen and Economides said they felt now was the right time to start their own law firm.

"You have to strike while the iron is hot," Rosen said. "We feel the iron is hot for us."

Rosen and Economides are the sole partners of Dynamis, which launched with offices in Boston, Miami and New York. The firm also employs two paralegals and an associate from Freedman Normand, Brianna Pierce.

Economides said they chose a trade name for their law firm rather than some combination of his and Rosen's last names because "we view the firm as something greater than just the two of us."

The two partners emphasized they will continue to work with Freedman Normand as co-counsel on several cases, including a $33 million arbitration demand against U.S. cryptocurrency exchange Coinbase on behalf of 118 people who say they were the victims of scams.

Coinbase, which did not immediately respond to a request for comment, told the Washington Post in October that it is committed to protecting customers from scams, but said its customers have exclusive control over their wallet.

"Eric and Constantine got the bug to start their own firm, something we absolutely understand, and we expect to see great things from them," Devin "Velvel" Freedman, a founding partner of Freedman Normand, said in an email.

One case Rosen has taken with him to his new firm is his representation of John Rybarczyk, who was charged along with seven others for allegedly using social media platforms Twitter and Discord to manipulate stocks and earn $114 million. Rybarczyk has pleaded not guilty.

"We intend to grow right now, because we have enough work to warrant growing right now," Economides said.

Read More: U.S. authorities charge 8 social media influencers in securities fraud scheme Crypto law firm Roche Freedman parts ways with founder after video leak 'Varsity Blues' college scam prosecutor joins litigation boutique

David Thomas Thomson Reuters David Thomas reports on the business of law, including law firm strategy, hiring, mergers and litigation. He is based out of Chicago. He can be reached at d.thomas@thomsonreuters.com and on Twitter @DaveThomas5150.