The ascent and subsequent downfall of the cryptocurrency exchange FTX had significant repercussions for the sporting industry, with effects still being felt today through ongoing legal battles involving the now bankrupt firm. Nonetheless, a recent court decision on Thursday exonerated several high-profile figures who acted as promotional backers, such as Tom Brady and Steph Curry, from most of the allegations brought against them.
Here’s some additional information on that from
that CNBC story
, from MacKenzie Sigalos:
A federal judge based in Florida has rejected the majority of the allegations made against well-known celebrities and YouTube personalities who endorsed the once-popular crypto trading platform FTX, such as individuals like Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry.
The decision reduces the breadth of a wide-ranging multidistrict lawsuit that accuses them of leveraging their celebrity status to promote a deceptive platform.
In an order issued on Wednesday, U.S. District Judge K. Michael Moore determined that the plaintiffs—a cohort of FTX investors—did not prove that the celebrities involved possessed enough knowledge about FTX and CEO Sam Bankman-Fried’s wrongdoing to hold them accountable for endorsing the platform.
…The judge dismissed almost all of the claims against the “Celebrity Defendants,” which include Shohei Ohtani, Larry David, the Golden State Warriors, Udonis Haslem, David Ortiz, and Naomi Osaka.
That lawsuit similarly mentions Shaquille O’Neal, who observed
Quite the soap opera happening here.
) and Trevor Lawrence, but notes that they already settled their involvement in these claims against
FTX
. But it’s certainly interesting to see the claims reduced against the remaining defendants, including Brady (who received $55 million for 20 hours a year for three years here,
as per
Michael Lewis
)
and Curry.
The post
Tom Brady, Steph Curry, Naomi Osaka, and other FTX celebrity endorsers have had most of their allegations dismissed.
appeared first on
Awful Announcing
.