13. April 2024

• A class action lawsuit has been filed against celebrities who promoted the now bankrupt FTX, including Shaquille O’Neal, Tom Brady and Naomi Osaka.
• A former executive of FTX is cooperating in the lawsuit, providing evidence that ties Florida to the defendants.
• The class action lawsuit alleges that “American consumers collectively sustained over $11 billion dollars in damages” due to the collapse of FTX, and Sam Bankman-Fried, former CEO of FTX is facing criminal and civil charges in the US.

Lawsuit Filed Against Celebrities Promoting FTX

A class action lawsuit has been filed against big-name celebrities who promoted bankrupt FTX including Shaquille O’Neal, Tom Brady and Naomi Osaka. The suit claims that “American consumers collectively sustained over $11 billion dollars in damages” due to their involvement with the company.

Former Executive Cooperating With Lawsuit

Former FTX Chief Compliance Officer Daniel Friedberg is now cooperating with lawyers representing the plaintiffs, providing evidence connecting Florida to the celebrities involved in promoting FTX. This evidence could prove pivotal in determining whether or not these defendants should be held liable for any losses suffered by customers of FTX.

Criminal Charges Filed Against Former CEO

Sam Bankman-Fried, former CEO of FTX is facing criminal and civil charges related to his involvement with the company. He faces over 100 years in prison if convicted on all counts but recently asked a New York judge to dismiss most of those charges claiming some of them are “dramatic”.

FTX’s Headquarters Located In Florida

The lawsuit claims that FTX organized its worldwide headquarters located here in Miami, Florida making this an important factor when determining which court has jurisdiction over this case and whether or not it should proceed forward in Florida or somewhere else.

Conclusion

This class action lawsuit continues as lawyers representing both sides continue to present evidence for their respective cases. It remains unclear if all celebrities will be found guilty or if any financial compensation will be awarded to those affected by this situation but more details are expected as this case progresses through court proceedings.