Entertainment & Sports,
Banking
Dec. 9, 2022
Tossing crypto action against celebrities, judge raises concerns
“The court acknowledges that this action raises legitimate concerns over celebrities’ ability to readily persuade millions of undiscerning followers to buy snake oil with unprecedented ease and reach,” wrote U.S. District Court Judge Michael W. Fitzgerald in his order dismissing the lawsuit brought by EthereumMax investors.
A federal judge in Los Angeles has dismissed a proposed cryptocurrency class action against the founders of EthereumMax and celebrity endorsers, including Floyd Mayweather Jr. and Kim Kardashian, for lack of standing.
“The court acknowledges that this action raises legitimate concerns over celebrities’ ability to readily persuade millions of undiscerning followers to buy snake oil with unprecedented ease and reach,” wrote U.S. District Co...
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