The parents of Sam Bankman-Fried, the former CEO of the FTX cryptocurrency exchange, are seeking to have the lawsuit filed against them by FTX dismissed. They deny allegations of being aware of issues at the exchange and illegally benefiting from the company's actions.

According to the lawyers of Joseph Bankman and Barbara Fried, the FTX lawsuit is aimed at exploiting the fact that they are the parents of the former FTX CEO. In September, FTX claimed that Bankman and Fried used their influence at FTX for personal enrichment at the expense of the company's creditors. However, Bankman-Fried's parents refute these accusations, stating that most claims are based on their familial relationship with their son.

The lawyers argue that Bankman had no fiduciary duties to FTX and did not act as a de facto director. They also state that even if such duties existed, the plaintiffs would not be able to convincingly prove a breach. The attorneys note that mere assertions are insufficient to present a plausible claim for damages, and the complaint must contain enough facts to allow a reasonable conclusion about the alleged wrongful behavior of the defendant.

Similar arguments were presented regarding Sam Bankman-Fried's mother, Barbara Fried, who claims there was no evidence of a fundamental breach and her actual awareness of any wrongful actions.

Ultimately, the lawyers insist that the claims against Bankman and Fried should be dismissed according to the Federal Rules of Civil Procedure and the Federal Rules of Bankruptcy Procedure for failing to present sufficient grounds for the lawsuit.

Thus, the situation surrounding the FTX legal process and the parents of Sam Bankman-Fried remains tense, with arguments and counterarguments presented by both sides regarding their involvement and knowledge of FTX's activities.