Current：Home > StocksNBA sued by investors over ties to failed crypto exchange Voyager -Blueprint Wealth Network
NBA sued by investors over ties to failed crypto exchange Voyager
EchoSense View
Date：2025-04-10 18:59:08
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！ (61)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- Adele fuels marriage rumors to Rich Paul: See their relationship timeline
- Journalist detained, home searched over reporting on French state defense secrets, news outlet says
- Megan Thee Stallion Reveals the Intense Workout Routine Behind Her Fitness Transformation
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- 3 fake electors want Georgia election subversion charges against them to be moved to federal court
- AP PHOTOS: Actress, model Marisa Berenson stars in Antonio Marras’ runway production
- AP PHOTOS: Actress, model Marisa Berenson stars in Antonio Marras’ runway production
- Rylee Arnold Shares a Long
- Kevin Costner and ex Christine Baumgartner reach 'amicable' divorce settlement
Ranking
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Man suspected of murdering 22 people killed by cellmate in prison: Officials
- Who was Hardeep Singh Nijjar, the Sikh activist whose killing has divided Canada and India?
- Polish police briefly detain lawmaker who interrupted prime minister’s speech
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Tunisian president’s remarks on Storm Daniel have been denounced as antisemitic and prompt an uproar
- Fentanyl found under sleeping mats at Bronx day care where 1-year-old child died
- UN urges Afghanistan’s Taliban government to stop torture and protect the rights of detainees
Recommendation
Average rate on 30
The alchemy of Carlos Santana
England’s National Health Service operates on holiday-level staffing as doctors’ strike escalates
TikToker Alix Earle Addresses “Homewrecker” Accusations After Braxton Berrios and Sophia Culpo Drama
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
‘ABC World News’ anchor David Muir chosen for Arizona State University’s Cronkite Award
Challenges to library books continue at record pace in 2023, American Library Association reports
Supporters of reparations for Black residents urge San Francisco to push forward