A Court Rules in Favor of Kim Kardashian in Lawsuit of Investors in EthereumMax
A US court has made a preliminary ruling in favor of Kim Kardashian and Floyd Mayweather in a class-action lawsuit against them by investors in the altcoin EthereumMax (EMAX).
In a complaint filed in January, the plaintiffs alleged they paid “inflated prices” for the digital asset because the fashion model and former professional boxing star hyped the token. The former basketball player of the Boston Celtics club Paul Pierce also became a defendant in the case.
Los Angeles US District Judge Michael Fitzgerald has noted in the ruling that investor advocates are “trying to act” like the SEC, but “have not decided to treat the tokens as securities.”
According to him, lawyers have refused such a classification of the asset “for obvious reasons.” Fitzgerald has said he would issue a final order later.
