Current：Home > NewsNBA sued by investors over ties to failed crypto exchange Voyager -Pinnacle Profit Strategies
NBA sued by investors over ties to failed crypto exchange Voyager
View
Date：2025-04-13 07:10:54
The National Basketball Association is being sued for its promotion of defunct crypto exchange Voyager Digital Holdings, which investors allege led to losses of more than $4.2 billion.
The NBA was "grossly negligent" for approving a marketing deal between Voyager and the Dallas Mavericks, according to lawsuit filed Tuesday in a Miami district court. "The NBA's widespread promotion of Voyager's unregistered securities renders it liable for any and all resulting damages."
The suit also names Voyager's law firm, McCarter & English, alleging it used its credibility to assure investors that Voyager's offerings were "entirely above board," the document contends.
The same group in 2022 sued Mark Cuban, the former owner of the Mavericks, claiming he misled them about Voyager. Cuban denied the allegations.
Voyager filed for bankruptcy in July 2022 due to exposure to the failed crypto hedge fund Three Arrows Capital.
The NBA and McCarter & English did not immediately respond to a request for comment.
Kate GibsonKate Gibson is a reporter for CBS MoneyWatch in New York.
veryGood！ (849)
Related
- Don't let hackers fool you with a 'scam
- Judge blocks Biden administration from enforcing new gun sales background check rule in Texas
- County sheriffs wield lethal power, face little accountability: A failure of democracy
- Mexican and Guatemalan presidents meet at border to discuss migration, security and development
- $73.5M beach replenishment project starts in January at Jersey Shore
- Should the Fed relax its 2% inflation goal and cut interest rates? Yes, some experts say.
- Gabby Douglas falters, Simone Biles shines at Olympic qualifying event
- Drone pilot can’t offer mapping without North Carolina surveyor’s license, court says
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Kandi Burruss Breaks Silence on Real Housewives of Atlanta's Major Cast Shakeup
Ranking
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- WNBA and LSU women's basketball legend Seimone Augustus joins Kim Mulkey's coaching staff
- Bella Hadid Frees the Nipple in Plunging Naked Dress at 2024 Cannes Film Festival
- Pro-Palestinian protesters at Drexel ignore call to disband as arrests nationwide approach 3,000
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- You may want to eat more cantaloupe this summer. Here's why.
- Scottie Scheffler’s Louisville court date postponed after arrest during PGA Championship
- Ben Affleck Detailed His and Jennifer Lopez's Different Approaches to Privacy Before Breakup Rumors
Recommendation
Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
Erin Foster Gives Birth, Welcomes First Baby With Husband Simon Tikhman
Ricky Stenhouse Jr. throws punch at Kyle Busch after incident in NASCAR All-Star Race
Will Jennifer Love Hewitt’s Kids Follow in Her Acting Footsteps? She Says…
Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
MLB power rankings: Kansas City Royals rise from the ashes after decade of darkness
Target to cut prices on 5,000 products in bid to lure cash-strapped customers
Big Ten outpaced SEC with $880 million in revenue for 2023 fiscal year with most schools getting $60.5 million