- A group of disgruntled Voyager investors has filed a lawsuit against the NBA, claiming the league is implicit and liable for their losses on the failed platform.
- The lawsuit alleges that the NBA was “grossly negligent” when it approved Voyager’s promotional deal with the Dallas Mavericks and should have served as the “gatekeeper.”
- The investors argue that the NBA’s promotion of Voyager’s unregistered securities makes it liable for any resulting damages.
Elaborate With Insight:
The disgruntled investors have taken legal action against the NBA, claiming that the league shares responsibility for their losses on the failed cryptocurrency platform Voyager. According to the lawsuit, the NBA was “grossly negligent” when it approved a promotional deal between Voyager and the Dallas Mavericks. The investors argue that the NBA should have acted as a gatekeeper and prevented the promotion of unregistered securities.
The lawsuit suggests that the NBA’s extensive promotion of Voyager’s unregistered securities makes it liable for any damages incurred by investors. The plaintiffs seek to hold the NBA accountable for their losses and are pursuing legal action in a Miami District Court.
This lawsuit against the NBA highlights the complexities of legal accountability in the cryptocurrency industry. While the investors claim that the league should be held liable for its promotion of unregistered securities, the outcome of this case will likely shape future regulation and oversight in the cryptocurrency space.