Once again, Kim Kardashian and Floyd Mayweather found themselves embroiled in a court battle when a federal judge in California permitted certain aspects of a well-known Bitcoin lawsuit to proceed.
The ruling authorized investors in New Jersey, California, Florida, and New York to pursue legal action over a token that was endorsed by a number of celebrities in 2021.
For anyone who purchased the token between May and June 2021, U.S. District Judge Michael Fitzgerald decided that these state-level proceedings may go forward. He rejected a countrywide case, nevertheless, stating that it would be too difficult to apply state laws uniformly throughout the nation and establish each claim in the same manner.
In addition to those connected to the token’s creation, such as EMAX Holdings, co-founder Giovanni Perone, and purported consultant Jona Rechnitz, the lawsuit also targets Kardashian, Mayweather, and retired NBA star Paul Pierce.
The token was mentioned by Kanye West’s ex-wife on Instagram back in 2021, when she had about 200 million followers.
Judge Fitzgerald dismissed the initial complaint in December 2022, stating that buyers should do independent research before to making an investment. Seven months later, investors returned with a fresh file, which resulted in the present decision.
In a different case, Kim Kardashian consented to pay $1.26 million in October 2022 to resolve allegations made against her by the U.S. Securities and Exchange Commission that she had concealed a $250,000 payment she had received to promote the coin.
