Cuban, Mavericks remain involved in cryptocurrency lawsuit (2024)

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5.10.2024

The suit said that Mavericks minority owner Mark Cuban “leveraged his name and credibility to lead investors to trust Voyager”Mavericks

The Mavericks and minority owner Mark Cuban are the “last remaining defendants left standing” in a lawsuit involving defunct cryptocurrency platform Voyager Digital for their promotion of the company, but Cuban “may not look to settle his portion of the lawsuit,” according to Irving Mejia-Hilario of the DALLAS MORNING NEWS. Former NFLer Rob Gronkowski, former NBAer Victor Oladipo and NASCAR driver Landon Cassill have “agreed to pay a combined” $2.4M as part of the lawsuit. Cuban and the Mavericks announced a five-year partnership with Voyager in 2021, where “fans could receive a $100 reward if they deposited $100 and traded a minimum of $10 by the end of the month.” The deal “attracted so many prospective investors that Voyager implemented a waitlist.” However, the partnership “almost immediately went sour.” Two months later, a class-action lawsuit was filed against Cuban and the Mavericks “on behalf of the platform’s investors.” The suit said that Cuban “leveraged his name and credibility to lead investors to trust Voyager” and that he made “false and misleading promises” (DALLAS MORNING NEWS, 5/9).

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