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On Feb. 21, Floyd Mayweather and Kim Kardashian filed a motion urging Judge Michael W. Fitzgerald of the Central District of California to disregard a 2d amended complaint filed through EMAX investors in December 2022.
According to Kardashian and Mayweather, the renewed allegations regurgitated the “same simple theory” the courtroom before dismissed.
On Dec. 7, Judge Fitzgerald threw out the type action lawsuit towards EMAX’s creators and its superstar backers, which include Mayweather, Kim Kardashian, Giovanni Perone, Jona Rechnitz, and former NBA star Paul Pierce, over their social media advocacy of the cryptocurrency.
Crypto fanatics who purchased EMAX tokens claimed they had lost money after listening to Kim Kardashian and Floyd Mayweather talk about the cost of EMAX.
According to the lawsuit, the movie star influencers conspired to artificially increase the cryptocurrency’s value.
In his initial ruling, Judge Fitzgerald recounted that the allegations in the lawsuit caused genuine difficulty about the ability of well-known human beings to easily convince hundreds of thousands of unsuspecting fans and followers to purchase whatever with unparalleled ease.
However, Judge Fitzgerald reminded the complainants that it was once their responsibility to operate due diligence before investing their money. According to the judge, the plaintiff’s claims have been not sufficiently supported, specifically given the high threshold of proof required for fraud claims.