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.