- Three co-defendants and sports activities stars within the Voyager Digital lawsuit have agreed to settle with the victims
- Nevertheless, Mark Cuban and his staff haven’t settled, which might see them face trial in November
Mark Cuban might face trial in November 2024 after failing to settle claims within the ongoing Voyager Digital crypto-linked class motion go well with.
Not like Cuban, different sports activities stars linked to the lawsuit like Rob Gronkowski, Victor Oladipo, and Landon Cassill, have opted to settle the claims linked to Voyager Digital’s promotion, collectively agreeing to pay $2.4 million.
Ought to the courtroom greenlight the aforementioned settlement, Mark Cuban and his staff would be the solely ones left to proceed for trial later within the yr, as captured by the submitting,
“Plaintiffs have now settled with Voyager promoters Cassill, Gronkowski, and Oladipo for hundreds of thousands of {dollars} in reduction to the category, leaving Co-Defendants Mark Cuban and the Dallas Mavericks because the remaining Defendants for trial in November 2024.”
Voyager Digital and Mark Cuban’s woes
Just like the settled trio, billionaire Mark Cuban and his basketball staff, Dallas Mavericks, signed a five-year promotion arrangement with Voyager Digital in 2021. Given his affect and Maverick’s fanbase, Voyager Digital attracted a number of clients.
Nevertheless, issues went south after the agency’s chapter in 2022, and traders misplaced cash. This led to a category motion lawsuit by the affected clients. The victims declare that Cuban’s promotion affected 3.5 million of them, with the plaintiffs collectively shedding over $5 billion.
For perspective, the sports activities star Rob Gronkowski had an extensive association with the defunct crypto-firm, together with a model ambassador and token holders. His intensive involvement within the promotion noticed him cough $1.9 million as a part of the settlement, greater than Oladipo and Cassill.
That being mentioned, it stays to be seen whether or not Mark Cuban will search a settlement or go for the trial scheduled for November 2024. Even so, the event is a stark reminder of the dangerous aspect of endorsing crypto-firms by influential public figures.