FTX, MLB, Mercedes F1, and Celebrity Crypto Endorsers Like Tom Brady and Kevin O’Leary Face Proposed Class Action Lawsuit

Attention: All Crypto Investors Negatively Impacted By FTX

Major League Baseball, Mercedes F1 Racing, Tom Brady, Gisele Bündchen, Larry David, Stephen Curry, Dentsu Global, and several other prominent celebrity promoters and global marketing and public relations giants are at the center of a new 582-page amended complaint today, as plaintiffs seek to hold promoters jointly and severally liable for billions of dollars still owed to the FTX class in the multidistrict litigation in Miami. 

U.S. District Judge K. Michael Moore created 7 different tracks of litigation against the promoters, as well as against the lawyers, accountants, insiders, and hedge fund investors. 

Earlier this month, Judge Moore ruled plaintiffs properly alleged Florida Securities Claims against the FTX celebrity promoters and allowed plaintiffs this chance to file an amended complaint. 

The MDL plaintiffs have been working diligently along with the FTX Estate to draft the amended complaint against these promoters and coordinate various mediations with various FTX defendants. 

According to Adam Moskowitz, who is co-lead counsel for the FTX class, along with David Boies, “We are grateful to the FTX Estate for all of their great work, cooperation, and coordination with this Amended Complaint.” 

As specifically alleged in the amended complaint:

This multidistrict litigation tells two stories. The first is familiar: a global, multibillion-dollar fraud made possible only through the knowing promotion and participation of dozens of powerful insiders and celebrity influencers. The second is unprecedented: (1) a global class action securities case where the underlying illegal misconduct is not speculative, but already proven “beyond a reasonable doubt” in a federal criminal jury trial before the Honorable Judge Lewis A. Kaplan; (2) where bankruptcy courts, including the Honorable Judge John T. Dorsey, have already returned over $4.5 billion to creditors; (3) where the total damages to the certified class members yet-to-be-recovered exceeds tens of billions of dollars more; (4) the fraudulent FTX plan was hatched and emanated mainly from here in South Florida; and (5) binding precedent in this Circuit holds allegations regarding these exact types of social media promotions of unregistered securities state a cause of action for soliciting sales of unregistered securities.

Click to see the amended complaint here.

 

Notice of MDL Petition & Class Action

Please see above as well as corresponding court documents and pleadings below.

1) D.E. 1 Petitioners' Motion to Transfer of Related Actions to the Southern District of Florida

2) D.E. 1-2 Brief

3) D.E. 1-3 Schedule of Actions

4) D.E. 1-4 Proof of Service

5) D.E. 1-5 Garrison v. Bankman-Fried

6) D.E. 1-6 Podalsky v. Bankman-Fried

7) D.E. 1-7 Norris et al v. Brady

8) D.E. 1-8 Jessup v. Bankman-Fried

9) D.E. 1-9 Hawkins v. Bankman-Fried

10) D.E. 1-10 Pierce v. Bankman-Fried

11) D.E. 1-11 Lam v. Bankman-Fried

12) D.E. 1-12 Papadakis v. Bankman-Fried

13) D.E. 1-13 Gonzalez v. Silvergate Bank et al

14) D.E. 1-14 Sepulveda Zuleta et al v. Silvergate Capital Corporation

15) D.E. 1-15 Husary et al v. Silvergate Bank

Did You Lose Money Because of FTX? You Could Join the Class Action Lawsuit.

Take Action Now By Contacting Us To Verify If You Can Be A Class Member

Millions of FTX account holders and crypto investors are facing losses due to the misleading statements and deceptive practices of FTX and it’s partners. If you were a FTX customer and suffered due to the actions of the company and/or its partners, contact us now at 305-740-1423 or complete the form below for a FREE CASE REVIEW.

NOTE: The submission of information through this website to The Moskowitz Law Firm will not create or constitute an attorney-client relationship. We cannot assure you that your communications will be privileged or, unless agreed to in a specific case, that we will treat your website communications as such. Please do not send any confidential or sensitive information until you speak with one of our attorneys or legal professionals, obtain prior written authorization to send that information to us, and have entered into a formal written attorney-client relationship. Thank you.

Why Would We Sue FTX?

Sam Bankman-Fried, 30, and the celebrities he recruited to endorse FTX are responsible for around $11 billion of losses to American consumers. Many of the stars were 'ambassadors' for the trading platform, while others appeared in prime-time commercials.

The Moskowitz Law Firm is investigating potential claims of fraud and securities law violations in connection with the investment offerings and business practices of FTX. If you invested with FTX and were adversely affected, you might be eligible to join or file a class action claim.

Contact us today at 305-740-1423 for a FREE CASE REVIEW with one of our experienced attorneys.