Cryptocurrency investors filed a lawsuit in Florida state court last week against Tom Brady, and David Ortiz accusing them of duping consumers when they backed now bankrupt digital money platform FTX. The lawsuit also named former FTX executives.
quarterback and baseball Hall of Famer David Ortiz of duping consumers when they backed now bankrupt digital money platform FTX. The lawsuit also named former FTX executives.against several athletes who endorsed FTX, including Brady and Ortiz, and a different one aimed at Mark Cuban and the Dallas Mavericks for alleged transgressions related to the team’s sponsorship deal with failed crypto firm Voyager.
“That proposed RICO complaint really has no similarities to our cases at all, in terms of the specific claims, the specific allegations or any of the applicable law,” Moskowitz wrote in an email, referring to the Racketeering Influenced and Corrupt Organizations charge in the Ethereum case. “The only aspect that is similar is that they also sued a few of the cryptocurrency promoters for other claims, but specifically not for promoting the sale of unregistered securities.
“How can you prove that every member of the class bought the security, invested in FTX and made deposits based upon every one of those advertisements?” Wallach said. “Did induce everybody who’s a member of the class to buy the security?”
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