Kim Kardashian, other celebrities beat EMax crypto investors’ lawsuit - BusinessWorld Online

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A FEDERAL judge in California dismissed a lawsuit against Kim Kardashian, boxing legend Floyd Mayweather, Jr. and others over their role in promoting a cryptocurrency, saying it was not clear that the investors who sued actually saw the promotions.

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.

Sean Masson, an attorney who represents the investors in the EthereumMax case, said they plan to revise their claims to add “a host of additional facts demonstrating defendants’ wrongdoing and liability.” Attorneys for Mr. Mayweather did not immediately respond to a request for comment. Also named in the lawsuit was former National Basketball Association star Paul Pierce.

In Wednesday’s ruling, Mr. 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.

 

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