Kim Kardashian, Paul Pierce, and Floyd Mayweather were sued in January 2022 for advertising EthereumMax (EMAX). In this case, Kim Kardashian received a $1.26 million fine in October of the same year. The defendants were eventually exonerated in November. Despite all, investors in EthereumMax complained about them again in December 2022. They believe that the celebrities are completely at fault for endorsing EthereumMax without providing enough transparency. The celebs want to utilize the previous incident as support this time around.
Kim Kardashian and Floyd Mayweather Think That They should not be the Ones to be Held Accountable
Kim Kardashian and Floyd Mayweather are two celebrities who have filed a request to prevent a second trial in the EMAX case. A federal court in California approved the motion. This tries to persuade the court overseeing the case to throw out the claim regarding the advertising of EMAX. In particular, it shows that the new accusations are connected to the same fundamental premise that the court previously rejected.
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Celebrities claim they do not see why they should be held accountable for a case that has already gone to trial, especially now that the court has declared them to be innocent.
The First EthereumMax Inquiry should have Solved the Problems
It is important to highlight that the investors have started a class action. The celebrities’ collaboration with the EthereumMax team to increase the sale of EMAX tokens is the basis for their complaint. According to the class action lawsuit, a pump-and-dump technique was used to sell the cryptocurrency to investors.
It should be noted that the US SEC has issued a warning to celebrities not to promote cryptocurrencies. The US regulator has stated that it is crucial that they provide the proper disclosures when engaging in this kind of advertising. Celebrities are required by law to declare certain information, including the sums they have earned for endorsing stocks. In addition, they must disclose who is paying them for this service.
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