Kim Kardashian’s legal team has filed a motion to vacate a class action lawsuit aimed at the businesswoman and other American celebrities.
Kardashian and a handful of other prominent American social media influencers received a class action lawsuit in January 2022 over claims that they had misled investors through social media promotion of a cryptocurrency token called EthereumMax.
kardashian had published Instagram story posts promoting the project in June 2021, with boxing great Floyd Mayweather also embroiled in the lawsuit after promoting the Ethereum-based token in preparation for a celebrity boxing match against Youtuber Logan Paul during the same period.
Fans could purchase pay-per-view tickets with the tokens, which spiked after the promotion by Kardashian and other influencers. The value of EthereumMax dropped significantly afterward, leaving many penniless.
The original court filing listing Kardashian, Mayweather, and eight others claimed that company executives had collaborated with famous promoters to make misleading statements about the token and their control of most of the tokens. Steve Gentile and Giovanni Perone were listed as co-founders of the project.
Kardashian’s legal team has advocated for the dismissal of the class action lawsuit in court documents reviewed by Cointelegraph, responding to the ten claims filed against the influencer. One key takeaway was the Kardashian Instagram stories in question:
“Cricially, no named plaintiffs allege that they did, in fact, view any Instagram posts prior to purchasing tokens during the relevant time period.”
The filing also argued that the plaintiffs’ claims that the influencers were paid in Ethereum (ETH) to promote EMAX were baseless, given the lack of evidence that Kardashian received financial compensation for her Instagram posts.
Kardashian’s legal team also noted that no evidence was presented that Kardashian purchased, received, or sold the tokens herself. The defendants have jointly filed an omnibus motion to dismiss the class action claims generally.
While Kardashian backs away from his involvement in the EthereumMax debacle, this is the latest instance in which Mayweather has been involved in promoting a shady cryptocurrency project.
The boxer had already escaped from a lawsuit after promoting the fraudulent Centra Tech ICO in 2017 alongside US music producer DJ Khaled. The pair got off scot-free after a judge ruled that investors were unable to prove they had purchased tokens due to promotional efforts by Mayweather and Khaled.