Voyager crypto lawsuit: Mark Cuban can face trial after missing settlement talks
Mark Cuban could be going to court, sooner or later.
- Three co-defendants and sports stars in the Voyager Digital lawsuit have agreed to settle with the victims
- However, Mark Cuban and his team haven’t settled, which could see them face trial in November
Mark Cuban could face trial in November 2024 after failing to settle claims in the ongoing Voyager Digital crypto-linked class action suit.
Unlike Cuban, other sports stars linked to the lawsuit like Rob Gronkowski, Victor Oladipo, and Landon Cassill, have opted to settle the claims linked to Voyager Digital’s promotion, collectively agreeing to pay $2.4 million.
Should the court greenlight the aforementioned settlement, Mark Cuban and his team will be the only ones left to proceed for trial later in the year, as captured by the filing,
“Plaintiffs have now settled with Voyager promoters Cassill, Gronkowski, and Oladipo for millions of dollars in relief to the class, leaving Co-Defendants Mark Cuban and the Dallas Mavericks as the remaining Defendants for trial in November 2024.”
Voyager Digital and Mark Cuban’s woes
Like the settled trio, billionaire Mark Cuban and his basketball team, Dallas Mavericks, signed a five-year promotion arrangement with Voyager Digital in 2021. Given his influence and Maverick’s fanbase, Voyager Digital attracted several customers.
However, things went south after the firm’s bankruptcy in 2022, and investors lost money. This led to a class action lawsuit by the affected customers. The victims claim that Cuban’s promotion affected 3.5 million of them, with the plaintiffs collectively losing over $5 billion.
For perspective, the sports star Rob Gronkowski had an extensive arrangement with the defunct crypto-firm, including a brand ambassador and token holders. His extensive involvement in the promotion saw him cough $1.9 million as part of the settlement, higher than Oladipo and Cassill.
That being said, it remains to be seen whether Mark Cuban will seek a settlement or opt for the trial scheduled for November 2024. Even so, the development is a stark reminder of the risky side of endorsing crypto-firms by influential public figures.
