'The Company’s executives, collaborating with several celebrity promotors, made false or misleading statements to investors about EthereumMax through social...
Celebrities including boxer Floyd Mayweather Jr., Kim Kardashian and former NBA All-Star Paul Pierce are being sued over their roles in an alleged “pump and dump” cryptocurrency scam.
EthereumMax is a company that offers ERC-20 tokens on the ethereum ETHUSD, +3.90% network, according to its website. The current price of an EthereumMax token as of Tuesday morning is $0.00000001961, according to CoinMarketCap. iframe.twitter-tweet { width: 100% !important; } iframe.twitter-tweet { width: 100% !important; } “The Promoter Defendants’ improper promotional activities generatedonto unsuspecting investors. While Plaintiff and Class members were buying thetheir EMAX Tokens during the Relevant Period for substantial profits,” the complaint reads.
“In my years of representing athletes and celebrities, I constantly advise them that, beyond the legal language in any contract, they should always be sure that they genuinely have an affinity for the product or service that they are endorsing,” Darren Heitner, Professor of Sports Law at the University of Florida, told MarketWatch in an email referencing the complaint.
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