US EditionJudge Dismisses Most Claims Against Tom Brady, Stephen Curry Over FTX Crypto Endorsements
- A federal judge in Florida dismissed most claims against celebrities and influencers, including Tom Brady and Stephen Curry, involved in promoting FTX in a lawsuit filed in 2023.
- The lawsuit arose after FTX collapsed in November 2022, wiping out billions of dollars and triggering investigations into founder Sam Bankman-Fried’s fraud.
- The judge ruled that plaintiffs failed to show the celebrity defendants had sufficient knowledge of FTX’s misconduct and dismissed most allegations of deceptive marketing and unregistered securities promotions.
- Tom Brady reportedly received $30 million in FTX stock for endorsements, Gisele Bündchen $18 million, and the ruling limits the scope of multidistrict litigation against star endorsers.
- This ruling narrows investor efforts to hold endorsers accountable, but the case continues under specific state laws, with potential for introducing new defendants related to the broader FTX collapse.
12 Articles
12 Articles
Judge Tosses Nearly All Claims Against Tom Brady, Shohei Ohtani And Others In FTX Crypto Lawsuit
A federal judge elected to toss out nearly every claim made in a lawsuit against investors, including sports stars Steph Curry, Tom Brady, Shohei Ohtani, and others, after they promoted the collapsed cryptocurrency exchange FTX.United States District Judge K. Michael Moore in Miami dismissed 12 of the 14 claims in the lawsuit, explaining in a 49-page decision that the investors did not prove that celebrities and sports stars promoting the crypto…
Celebrities in the Spotlight: Legal Battles Over FTX Promotions
Celebrities in the Spotlight: Legal Battles Over FTX Promotions A federal judge has decided that a lawsuit involving several famous athletes and their alleged role in promoting the now-collapsed cryptocurrency exchange FTX can proceed, although in a limited capacity. The key sports figures include famous names such as Tom Brady and Stephen Curry.The court ruled that the investors did not sufficiently demonstrate that these celebrities knew about…
Tom Brady, Stephen Curry and other big names are mostly off the hook from the FTX fallout
A Florida federal judge has dismissed most of the claims against marquee celebrities and influencers who pushed the now-defunct cryptocurrency exchange FTX. Stars like New England Patriots quarterback Tom Brady, model Gisele Bündchen, Canadian TV personality Kevin O’Leary, and basketball standout Stephen Curry were…Read more...
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