Court dismisses Voyager lawsuit against Mark Cuban and Dallas Mavericks

2026-01-01 01:26:58

Source: Yellow Original Title: Mark Cuban Wins Dismissal of Voyager Cryptocurrency Lawsuit on Jurisdiction Grounds 3

Original Link: A federal judge dismissed a class-action lawsuit on December 30 against Mark Cuban and the Dallas Mavericks, alleging they defrauded investors while promoting the now-bankrupt cryptocurrency lending platform Voyager Digital.

U.S. District Judge Roy K. Altman in the Southern District of Florida ruled that the court lacked personal jurisdiction over the defendants. The case was dismissed after three years of litigation and multiple amended complaints.

Former Voyager customers filed the lawsuit, claiming Cuban and the Mavericks violated state securities laws and consumer fraud regulations.

What happened

The plaintiffs alleged that Cuban misrepresented Voyager in a October 2021 press conference, claiming he personally invested in the company.

Subsequently, the Mavericks posted promotional offers on Twitter, including an incentive of a $100 Bitcoin reward for new users who meet certain trading requirements.

Judge Altman found that the defendants’ nationwide advertising and sponsorship activities were insufficient to establish jurisdiction under Florida’s long-arm statute.

Former NFL player Rob Gronkowski, ex-NBA player Victor Oladipo, and NASCAR driver Landon Cassill had previously settled similar claims, totaling $2.4 million.

Voyager filed for Chapter 11 bankruptcy protection in July 2022, holding approximately $1.3 billion in crypto assets on its platform.

Why it matters

This dismissal is a significant legal victory for well-known crypto promoters facing investor lawsuits, especially after the platform’s collapse.

Voyager’s downfall occurred amid broader market turmoil in 2022, triggered by the collapse of the Terra blockchain.

Terraform Labs founder Do Kwon was sentenced to 15 years in prison on December 11 for fraud related to the $40 billion Terra collapse.

The case joins similar celebrity endorsement lawsuits against bankrupt platform promoters, including FTX.

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