Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Kim Kardashian’s lawyers want to drop EthereumMax lawsuit


Kim Kardashian’s lawyers have asked a judge to throw out a class-action lawsuit against her and other American celebrities.

In January 2022, a class-action lawsuit was filed against Kardashian and many other well-known American social media influencers on the grounds that they misled investors with the way they promoted the EthereumMax cryptocurrency on social media (EMAX).

In June 2021, Kardashian posted about the idea on her Instagram story, and Floyd Mayweather talked about the Ethereum-based currency before he fought YouTuber Logan Paul in a boxing match.

Fans could use the token to buy pay-per-view tickets, and the demand for them went up after Kardashian and other influencers promoted them. After that, the price of EthereumMax went down a lot, putting a lot of people out of money.

In the first legal petition, Kardashian, Mayweather, and eight other people were named. It said that business management worked with celebrity promoters to make false claims about the currency and who owned the most tokens. The project was started by Steve Gentile and Giovanni Perone.

In court papers that Cointelegraph got a hold of, Kardashian’s lawyers argued for the dismissal of the class-action case and defended her against the 10 claims that were made against her. The important part of the dispute was Kardashian’s Instagram stories.

“It’s important to note that none of the known plaintiffs say they saw either Instagram post before buying tokens during the relevant time period,” the court said.

The petition also said that the plaintiffs’ claims that influencers were paid in Ether (ETH) to promote EMAX were not true, since there was no proof that Kardashian had been paid for her Instagram posts.

The lawyers for Kardashian also stressed that there was no proof that Kardashian herself had ever bought, received, or sold the tokens. All of the defendants have put in a request to throw out all class action claims at once.

Kardashian is trying to distance herself from her role in the EthereumMax scandal, but this is not the first time that Mayweather has helped promote a cryptocurrency project that has been criticized.

DJ Khaled, an American boxer and music producer, promoted the fake Centra Tech initial coin offering in 2017 and stayed out of trouble. A court said that investors didn’t show that they bought tokens because of what Mayweather and Khaled did to promote them.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

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