Kim Kardashian Could Be Heading Toward Victory in Investor Lawsuit: EthereumMax Case Update
Is Kim Kardashian poised for a major legal win? Recent developments suggest the reality TV star may be nearing victory in an investor lawsuit stemming from her endorsement of the cryptocurrency EthereumMax (EMAX). While the case has been closely watched and fraught with complications, a crucial ruling could swing the tide in Kardashian's favor.Recent reports indicate that Kim Kardashian and other celebrities, including Floyd Mayweather Jr., have secured a tentative court ruling that could dismiss the lawsuit accusing them of misleading investors. This positive development follows months of scrutiny after Kardashian was initially hit with the lawsuit, raising questions about the responsibilities of celebrities endorsing crypto assets.
Key Ruling and Implications: According to Bloomberg, U.S. District Judge Michael Fitzgerald issued a written order on November 7, expressing a “tentative view” that lawyers defending EMAX investors were “trying to act like” the U.S. Securities and Exchange Commission (SEC) but “haven’t chosen to view the tokens as a security.” This statement suggests the court may be leaning towards dismissing the claim that EMAX tokens should be classified as securities, a potentially significant win for Kardashian and the other defendants.
The SEC Settlement: It's important to remember that Kardashian previously faced consequences from the SEC regarding her EthereumMax promotion. That wakeup call came Oct. 3 when the Securities and Exchange Commission announced that Kim Kardashian would be paying $1.26 million in penalties, disgorgement, and interest to settle charges for failing to disclose she was paid to promote the cryptocurrency. Kim Kardashian was recently charged by the SEC and settled for $1.26 million on October 3 for failing to disclose that she was paid to promote EthereumMax. This settlement, while a setback, is separate from the current investor lawsuit.
Judge Dismisses Lawsuit (Initially): A federal judge in California on Wednesday dismissed a lawsuit against reality TV star Kim Kardashian, boxing legend Floyd Mayweather Jr. and others over their role in promoting EthereumMax. This initial dismissal is a significant victory, though the possibility of appeal or further legal maneuvering remains.
Warning to Celebrities: A new ruling in a case brought by investors in a now-worthless crypto token serves as a warning to celebrities and social media influencers like reality star Kim Kardashian: If you’re endorsing crypto, you need to be transparent. While this specific case may be heading towards dismissal, the precedent set by the SEC settlement and the ongoing scrutiny of celebrity crypto endorsements remains.
Looking Ahead: Kim Kardashian LOOKS lista para WIN una demanda de inversores contra ella y otras celebridades por la Criptomonedas EthereumMax (EMAX), después de que un federal judge has granted reality star Kim Kardashian and boxer Floyd Mayweather an apparent victory. However, the situation remains fluid, and further developments are expected. We will continue to update this story as it unfolds.