Kim Kardashian Crypto Hype Lawsuit Advances Over Her Alleged Lies
NDTV
The judge said the investors adequately alleged the posts were "literally false." He also found that a Kardashian post suggesting that EMAX tokens were scarce was misleading.
Kim Kardashian failed to persuade a judge to throw out a lawsuit in which she's accused of scamming investors in a cryptocurrency called EthereumMax by falsely hyping the digital tokens. Floyd Mayweather Jr. fared better, with the judge finding that his public statements about the growth prospects for the EMAX token were mostly harmless.
But investors who claim they paid "inflated prices" for the blockchain-based digital assets will get a chance to revise and refile their allegations that the ex-boxing champion failed to disclose he was being paid to promote EMAX.
US District Judge Michael Fitzgerald in Los Angeles on Tuesday rejected arguments by Kardashian's lawyers that he should dismiss false advertising claims over her social media posts in which she said EMAX tokens would be accepted at certain night clubs as payment for table reservations.
The judge said the investors adequately alleged the posts were "literally false." He also found that a Kardashian post suggesting that EMAX tokens were scarce was misleading.
