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American Sports Personalities Settle in Voyager Promotion Case
Three well-known American sports personalities, Rob Gronkowski, Victor Oladipo, and Landon Cassill, recently reached a settlement agreement to collectively pay $2.42 million in a case related to the defunct crypto exchange Voyager Digital.
Details of the Settlement
The settlement sheds light on the financial and legal implications of their involvement in promoting Voyager Digital. Gronkowski agreed to pay the highest amount of $1.9 million, followed by Oladipo with $500,000, and Cassill with $25,000.
Legal Implications
Plaintiffs in the case are also seeking $792,000 in attorney fees. Gronkowski, being more deeply involved with Voyager as a partner, VGX token holder, shareholder, and ambassador, faced a larger settlement amount.
Background on Voyager Digital
Voyager Digital filed for bankruptcy in 2022 due to market turmoil and loan defaults. However, recent settlements with FTX, Three Arrows Capital, and D&O insurance claims have provided some relief to creditors.
Ongoing Litigation
While the sports personalities have settled, the main defendant, Mark Cuban, is yet to resolve the case. Cuban, along with the NBA, faces allegations of promoting unregistered securities through Voyager’s Earn Program Accounts.
Future Legal Proceedings
The trial against Cuban and the Dallas Mavericks is scheduled for November 2024, with criticisms raised against the NBA for its partnership with Voyager Digital.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
