Tom Brady, Larry David Among Celebs Cleared in FTX Lawsuit—Mostly
A judge dismissed most claims against celebrities sued for promoting the collapsed crypto exchange FTX, stating that investors failed to prove the celebrities had knowledge of fraudulent activities. Celebrities involved include Tom Brady, Stephen Curry, Naomi Osaka, Larry David, and Kevin O'Leary. The judge noted that while the defendants may have been uninformed or negligent, there was no evidence of intent to deceive investors. Plaintiffs can amend their complaint to pursue further legal action. Part of the lawsuit regarding the promotion of unregistered securities remains active. FTX, once a major crypto brand, filed for bankruptcy in November 2022 due to mismanagement by CEO Sam Bankman-Fried, who is now serving a 25-year prison sentence for fraud.
