Sports

Floyd Mayweather and Kim K

todayJanuary 14, 2022 5

Background
share close

Floyd Mayweather, Kim Kardashian Sued Over Crypto Promotion

The suit claims they misled investors.

Floyd Mayweather and Kim Kardashian are reportedly facing a lawsuit that accuses them of misleading investors in their promotion of a cryptocurrency token.

Filed on Jan. 7 in Los Angeles federal court, the suit claims the boxing legend and reality TV star touted tokens sold by EthereumMax (EMAX) in order to boost its price and make a profit “at the expense of their followers and investors.”

“The company’s executives, collaborating with several celebrity promoters … made false or misleading statements about EthereumMax through social media advertisements and other promotional activities,” the lawsuit states, according to Reuters.

Kardashian promoted the crypto in a June 2021 post on Instagram when she had 250 million followers, according to the lawsuit.

“Are you guys into crypto?” she wrote in the post. Followed by the disclaimer, “This is not financial advice.” The lawsuit says Kardashian said she wanted to share “what my friends just told me” about the EthereumMax tokens and included the #AD hashtag to show the post was a paid advertisement.

Mayweather promoted EthereumMax on his boxing trunks during a fight with YouTube star Logan Paul in June, among other times.

EMAX was also named in the lawsuit.

“The deceptive narrative associated with the recent allegations is riddled with misinformation about the EthereumMax project,” EthereumMax said in a statement, according to Reuters. “We dispute the allegations and look forward to the truth coming out.”

The suit is proposed as a class-action for anyone who bought EthereumMax tokens from mid-May to late June 2021 and seeks restitution and disgorgement of profits by the defendants.

Written by: admin

Rate it

Previous post

Events

KANYE WEST Under Investigation For Criminal Battery ALLEGEDLY PUNCHED FAN

Kanye West is a named suspect on an alleged battery early Thursday morning -- allegedly punching a fan, and has learned, and LAPD is investigating. Law enforcement sources tell us ... Ye got into some sort of argument that allegedly turned physical around 3 AM in DTLA. We're told the incident occurred near the Soho Warehouse. We do not know if Ye was at Soho before the incident, but given the […]

todayJanuary 14, 2022 3

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

Our Team
Sorry, there is nothing for the moment.
NAA B-Radio Communication Center

LISTEN WITH YOUR APP

Licensed By
0%