• A class action lawsuit has been filed against celebrities who promoted the now-bankrupt FTX exchange.
• Daniel Friedberg, former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit.
• The new evidence is being used to amend the lawsuit in order to address jurisdictional claims made by the defendants.
Lawsuit Against FTX Celebrity Promoters
A class action lawsuit has been filed against celebrities who allegedly promoted the now-bankrupt FTX exchange. The suit was first filed in mid-November shortly after the collapse of the exchange and involves Shaquille O’Neal, comedian Larry David, retired NFL player Tom Brady and FTX founder Sam Bankman-Fried among others.
Former Exchange Executive Cooperates with Lawsuit
Daniel Friedberg, the former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit. In sworn testimony he said that Avinash “Avi” Dabir, vice president of business development at FTX US was based in Miami and was in charge of brand ambassadors for FTX including those listed above. This refutes arguments made by some defendants claiming no association with Florida exists.
New Evidence Used to Amend Lawsuit
The class action lawyers are using this evidence to amend their lawsuit to try to address jurisdictional claims by defendants who argued that no conspiracy could have been “engineered in Florida” because FTX had no plans to move there until late September 2022 which was before any alleged promotional agreements were entered into.
Defendants’ Motions To Dismiss Challenged
The proposed amended complaint hopes to challenge motions from defendants aiming to dismiss as it provides evidence that promotional activity for FTX originated from Florida. It is up to the court to decide whether or not this evidence is sufficient enough for them to do so.
Celebrity Promoters Named in Suit
In addition to those mentioned previously other alleged celebrity promoters named in this suit include Brady’s then-wife Gisele Bündchen, entrepreneur Kevin O’Leary, and basketball star Steph Curry along with his team -the Golden State Warriors