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☆ Kim Kardashian, Floyd Mayweather can’t evade EMax crypto investors’ claims, judge says
▼ + stars: | 2023-06-07 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Pierce, who allegedly received nearly $250,000 in EMax tokens as payment for touting the investment, paid $1.4 million in February to settle the SEC’s allegations of deceptive securities promotion. The new ruling, Masson said, should serve as a blueprint for crypto investors who contend they were duped by celebrity promoters. The beefed-up amended complaint convinced the judge that investors had plausibly accused the celebrity influencers of doing just that: exerting influence over their followers by endorsing EMax tokens. Fitzgerald’s previous decision dismissing claims against Kardashian and the other EMax promoters, Masson said, might have created an impression that celebrities can’t be held responsible for allegedly deceptive crypto touting. “You cannot get away with this.”Read more:Kim Kardashian, other celebrities beat EMax crypto investors' lawsuitKim Kardashian pays $1.26 million fine for paid crypto ad, SEC saysOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kardashian, Michael Fitzgerald, Kardashian, Floyd Mayweather, famer Paul Pierce, Mayweather, Pierce “, ”, Fitzgerald, Hyping, you’ve, Scott, “, ” Fitzgerald, Michael Rhodes, Cooley, Pierce, Joel Weiner, Katten Muchin Rosenman, James Sanders, Reed Smith, influencer Logan Paul, Paul, King & Spalding, Sean Masson, Scott —, Kardashian —, EMax, Masson, ’, can’t, ” Masson, ” Read Organizations: District, Los, NBA, famer, U.S . Circuit, Securities, Exchange Commission, King &, SEC, Thomson, Reuters Locations: California, “, Florida

☆ Kim Kardashian and other celebrities beat crypto investors’ lawsuit
▼ + stars: | 2022-12-08 | by ( ) edition.cnn.com time to read: +2 min

The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. US District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. Kardashian agreed in October to pay the SEC $1.26 million to settle claims that she failed to disclose she was paid to promote EthereumMax tokens.

☆ A judge dismissed a crypto promotion lawsuit against celebrities including Kim Kardashian and Floyd Mayweather Jr.
▼ + stars: | 2022-12-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

A judge has dismissed a lawsuit against celebrities over their role in promoting a crypto token. The lawsuit accused EthereumMax of conspiring with public figures to promote the token. The lawsuit, which was originally filed in January, accused EthereumMax of conspiring with celebrities to promote the EMax token. The judge told investors they could amend the proposed class action and refile it. Representatives for Kardashian and EthereumMax did not immediately respond to requests for comment from Insider.

☆ EMax crypto investors’ lawsuit against Kim Kardashian, Floyd Mayweather Jr., other celebrities dismissed
▼ + stars: | 2022-12-07 | by ( ) www.nbcnews.com time to read: +2 min

The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. U.S. District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. While the investors may revise those claims, Fitzgerald permanently dismissed their claim under California’s consumer protection law, which he said applies to tangible goods and services, not “intangible goods” such as cryptocurrency.

"It is more complicated than your plain vanilla crypto exchange story," she said. FTX filed for bankruptcy on Nov. 11 and is facing scrutiny from U.S. authorities. The lawsuit filed on Tuesday did not name FTX as a defendant but instead targeted individuals. New lawsuits may also target celebrity promoters of FTX crypto products. Future investor lawsuits over the FTX meltdown are likely to allege claims beyond securities registration and consumer protection violations, plaintiffs' attorneys said.

Nov 16 (Reuters) - U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and comedian Larry David, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed on Tuesday night in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States. When the crypto exchange faltered on liquidity concerns, U.S. investors sustained $11 billion in damages, the lawsuit says. The lawsuit seeks damages from Bankman-Fried and 11 athletes and other celebrities who promoted FTX, including David, the creator of "Seinfeld" and "Curb Your Enthusiasm." Sean Masson, an attorney at Scott+Scott who represents crypto investors in the EMAX case, said investors have used the Florida unfair trade law to target crypto promoters in lawsuits that are pending.

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