Two partners, Eric Rosen and Constantine Economides, have recently departed from the cryptocurrency-focused plaintiffs’ law firm formerly known as Roche Freedman. They have now announced the establishment of their own law firm called Dynamis. Rosen and Economides disclosed the decision to leave Roche Freedman and initiate their own venture on Monday.
Initially, Rosen and Economides were partners at Freedman Normand Friedland, a firm that underwent a name change in October, dropping “Roche” from its title following allegations against co-founder Kyle Roche. Roche had been accused of utilizing investor lawsuits to benefit a client, and he chose to leave the firm. However, Roche has countered these claims, asserting that he was a victim of a well-orchestrated setup.
Before joining the Freedman firm, Rosen was a federal prosecutor in Boston, leading the U.S. investigation into the infamous “Varsity Blues” college admissions scandal. Economides, on the other hand, has gained legal experience from his previous positions at renowned law firms such as Greenberg Traurig, BakerHostetler, and Robbins Geller Rudman & Dowd. Notably, while at BakerHostetler, Economides was involved in a team that successfully recovered billions of dollars for victims of Bernie Madoff’s Ponzi scheme.
See also: Coinbase Takes Legal Action to Urge SEC to Draft Clear Regulations for Cryptocurrencies
Explaining their motivation to establish their own law firm, Rosen and Economides expressed their belief that the timing was favorable. They felt it was crucial to seize the opportunity when conditions were favorable, with Rosen stating, “You have to strike while the iron is hot. We feel the iron is hot for us.”
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Dynamis, the new law firm founded by Rosen and Economides, currently operates with the two partners as its sole members. The firm has launched with offices located in Boston, Miami, and New York. Additionally, Dynamis has recruited two paralegals and an associate, Brianna Pierce, from their former firm, Freedman Normand.
When asked about the choice of the firm’s trade name, Economides mentioned that they opted for a trade name instead of using their own surnames because they perceive the firm as something greater than just themselves.
It is worth noting that Rosen and Economides intend to maintain a collaborative relationship with Freedman Normand as co-counsel on several ongoing cases. One notable case involves representing 118 individuals claiming to be scam victims, seeking a $33 million arbitration demand against U.S. cryptocurrency exchange Coinbase. While Coinbase did not immediately respond to requests for comment, they previously stated their commitment to safeguarding customers from scams while emphasizing that customers retain exclusive control over their wallets.
Devin “Velvel” Freedman, a founding partner of Freedman Normand, expressed understanding regarding Rosen and Economides’ decision to establish their own firm, stating in an email, “Eric and Constantine got the bug to start their own firm, something we absolutely understand, and we expect to see great things from them.”
Rosen has also carried over one of his ongoing cases to his new firm. He continues to represent John Rybarczyk, one of eight individuals charged with manipulating stocks and earning $114 million through the use of social media platforms like Twitter and Discord. Rybarczyk has pleaded not guilty to the charges.
Looking ahead, Economides stated that their intention is to expand Dynamis due to the existing workload that justifies such growth. “We intend to grow right now because we have enough work to warrant growing right now,” Economides explained.
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