Court Dismisses EthereumMax Lawsuit Against Kim And Floyd Mayweather December 08, 2022
Story - Jai Pratap
Lawsuit claiming Kim Kardashian and Mayweather misled investors by promoting a “pump and dump” scheme has been dismissed.
The US court said that the case raised "legitimate concerns" about the ability of celebrities to persuade fans to "buy snake oil with unprecedented ease and reach."
The district judge added, “But the law still expected investors to "act reasonably" before acting "on the zeitgeist of the moment."
Kim Kardashian had promoted EthereumMax on her Instagram account back in June 2021.
Boxing legend Mayweather promoted the EMAX tokens at a boxing match and at a Bitcoin conference in June 2021.
The EMAX token skyrocketed in 2021 - but by January, it had lost 97% of their value.
Investors can refile the lawsuit by 22 December if they amend some of their claims.