{"id":1741953,"date":"2022-11-17T06:30:22","date_gmt":"2022-11-17T11:30:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1741953"},"modified":"2022-11-17T08:19:23","modified_gmt":"2022-11-17T13:19:23","slug":"ftx-founder-a-list-celebrities-hit-with-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftx-founder-a-list-celebrities-hit-with-class-action-lawsuit\/","title":{"rendered":"FTX Founder, A-List Celebrities Hit With Class-Action Lawsuit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fftx-founder-a-list-celebrities-hit-with-class-action-lawsuit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1741953&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Democrats&#8217; ties to FTX taint oversight efforts. FOX Business&#8217; Hillary Vaughn with more on the crypto exchange company&#8217;s collapse. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The founder of the now-collapsed <a href=\"https:\/\/www.foxbusiness.com\/category\/cryptocurrency\" target=\"_blank\" rel=\"noreferrer noopener\">crypto trading company FTX<\/a> has been hit with a class action lawsuit by investors alleging\u00a0he and other high-profile celebrities \u2014 such as legendary NFL quarterback Tom Brady and NBA star Stephen Curry \u2014 violated Florida law and made consumers suffer more than $11 billion in damages.\u00a0<\/p>\n<p>The 41-page document filed on behalf of\u00a0Oklahoma resident Edwin Garrison in the U.S. District Court\u2019s Southern District of Florida comes as FTX, led by crypto billionaire Sam Bankman-Fried, <a href=\"https:\/\/www.foxbusiness.com\/markets\/ftx-files-for-bankruptcy-bankman-fried-resigns\" target=\"_blank\" rel=\"noreferrer noopener\">filed for bankruptcy last week.<\/a>\u00a0<\/p>\n<p>The lawsuit, which names &#8220;Sam Bankman-Fried, Tom Brady, Gisele B\u00fcndchen, Stephen Curry, Golden State Warriors, Shaquille O\u2019Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O\u2019Leary,&#8221; seeks to make them &#8220;responsible for the many billions of dollars in damages they caused Plaintiff and the Classes and to force Defendants to make them whole.&#8221;\u00a0<\/p>\n<p>The suit describes the well-known celebrities as &#8220;all parties who either controlled, promoted, assisted in, and actively participated in FTX Trading and FTX US (collectively, the &#8220;FTX Entities&#8221;), offer and sale of unregistered securities in the form of yield-bearing accounts\u00a0(YBAs) to residents of the United States.&#8221;\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/us-may-extradite-sam-bankman-fried-ftx-collapse-investigation-report\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>US MAY EXTRADITE SAM BANKMAN-FRIED OVER FTX COLLAPSE: REPORT<\/strong><\/a><strong>\u00a0<\/strong><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/08\/931\/523\/tom-brady-gisele-bundchen.jpg?ve=1&#038;tl=1\" alt=\"Tom Brady and Gisele Bundchen at the Met Gala\" \/><\/div>\n<div class=\"caption\">\n<p><span>Tom Brady and his now ex-wife Gisele B\u00fcndchen are among those named in the FTX class action lawsuit.<\/span><span> (Taylor Hill\/FilmMagic \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;The Deceptive and failed FTX Platform was based upon false representations and deceptive conduct,&#8221; the lawsuit reads. &#8220;Although many incriminating FTX emails and texts have already been destroyed, we located them and they evidence how FTX\u2019s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments. As a result, American consumers collectively sustained over $11 billion dollars in damages.&#8221;\u00a0<\/p>\n<p>The lawsuit says Brady and his ex-wife B\u00fcndchen are &#8220;FTX ambassadors&#8221; who &#8220;joined the company\u2019s $20-million ad campaign in 2021,&#8221; filming a commercial &#8220;showing them telling acquaintances to join the FTX platform.&#8221;\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/a><strong>\u00a0<\/strong><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/11\/931\/523\/FTX-Founder-Sam-Bankman-Fried.jpg?ve=1&#038;tl=1\" alt=\"Sam Bankman-Fried, CEO of FTX US Derivatives, testifies on Capitol Hill in May 2022\" \/><\/div>\n<div class=\"caption\">\n<p><span>From right, Terrence A. Duffy, CEO of the Chicago Mercantile Exchange; Sam Bankman-Fried, CEO of FTX US Derivatives; Christopher Edmonds, chief development officer of the Intercontinental Exchange; and Christopher Perkins, president of CoinFund, test<\/span><span> (Tom Williams\/CQ-Roll Call, Inc via Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;Defendant Stephen Curry had his own nationwide ad campaign pushing the Deceptive FTX Platform, known as the &#8220;#notanexpert&#8221; campaign. Throughout the ad, Curry repeatedly denies being cast as an expert in cryptocurrency, culminating in his statement that \u2018I\u2019m not an expert, and I don\u2019t need to be. With FTX I have everything I need to buy, sell, and trade crypto safely,\u2019&#8221; the lawsuit also says.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/11\/931\/523\/Larry-David.png?ve=1&#038;tl=1\" alt=\"Larry David FTX lawsuit\" \/><\/div>\n<div class=\"caption\">\n<p><span>Larry David, the creator of the popular television shows &#8220;Seinfeld&#8221; and &#8220;Curb Your Enthusiasm,&#8221; is another celebrity named in the lawsuit.<\/span><span> (Randy Holmes\/ABC via Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>The lawsuit was <a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-florida\" target=\"_blank\" rel=\"noreferrer noopener\">filed in Florida<\/a> because the defendants, it says, &#8220;conduct business in Florida, and\/or have otherwise intentionally availed themselves of the Florida consumer market through the promotion, marketing, and sale of FTX\u2019s YBAs in Florida, which constitutes committing a tortious act within the state of Florida.&#8221;\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democrats&#8217; ties to FTX taint oversight efforts. FOX Business&#8217; Hillary Vaughn with more on the crypto exchange company&#8217;s collapse. The founder of the now-collapsed crypto trading<\/p>\n","protected":false},"author":1,"featured_media":1741956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1741953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1741953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1741953"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1741953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1741956"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1741953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1741953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1741953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}