- NBA star Paul Pierce was also named as a defendant in the action.
- In June 2021, Kim Kardashian posted a crypto-related Instagram post.
Kim Kardashian’s legal team has filed a motion to dismiss a class-action lawsuit against the entrepreneur and other American celebrities. The cryptocurrency industry is home to a plethora of different currencies. Finding real coins amid a sea of fakes may be a difficult task. False advertising may raise the risk of being deceived.
Kim Kardashian and Mayweather Jr. were the targets of a lawsuit brought in Los Angeles federal court to protect trusting investors. NBA star Paul Pierce was also named as a defendant in the action.
Accused of 10 Offences
In June 2021, Kim Kardashian surprised many by posting a crypto-related Instagram post. EthereumMax, or EMAX, was promoted by the celebrity. A popular Instagram figure, Kim Kardashian had a fan base of 250 million people at the time of her campaign. She now has 327 million people following her on Instagram.
Despite a disclaimer that said, “This is not financial advice,” she was seen endorsing EthereumMax tokens. Although her post stated “#AD,” thus Kim Kardashian was in perilous waters. During his famous fight with YouTuber Logan Paul, boxing great Floyd Mayweather Jr. popularized the token. EthereumMax’s brand was emblazoned on every inch of his boxing trunks.
According to the complaint, Kim was accused of 10 offences. Her Instagram tales were a major focus of the complaint. There was no evidence of payments made to influencers for promoting EMAX, the dismissal filing argues. Lawyers for Kim Kardashian also said that there is no proof that Kim purchased or sold the EMAX token. In order to have the claims and case thrown out, the attorney has filed an “Omnibus Motion.”
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