- Gronkowski, Oladipo and Cassill pay $2.4 million in Voyager lawsuit.
- The agreement highlights regulatory issues and investor protection concerns.
In a surprising intersection of sports and finance, retired football star Rob Gronkowski, NBA player Victor Oladipo and NASCAR driver Landon Cassill find themselves at the center of a legal settlement.
The case involves allegations related to the promotion of failed cryptocurrency exchange Voyager Digital Holdings Inc.
Who should we blame?
According to court documents, the three jointly agreed to pay $2.4 million to settle the claims, with Gronkowski taking the lion’s share of $1.9 million. The statement added:
“All settlement defendants must provide a total of $2,425,000 in monetary relief.”
The settlement, which came without any admission or denial of the allegations, has sparked discussion in both the sports and cryptocurrency communities.
This is open to U.S. individuals who signed up for Voyager Earn or purchased VGX tokens on or after October 23, 2019.
Adam Moskowitz of The Moskowitz Law Firm, which represents the investors in the aforementioned claims, told Law360 on May 7 that the settlement was largely motivated by the players’ desire to support their fans.
he said,
“Gronk had real empathy for all his fans, even though he lost money on Voyager. “It’s no surprise that he remains such a trusted and respected spokesperson.”
Moskowitz praised U.S. District Judge Roy K. Altman, adding:
“We are also grateful to (U.S. District Judge Roy K. Altman) for his careful presiding over our litigation, and we hope to reach additional settlements with the other defendants in the future.”
the real culprit
Although Gronkowski, Oladipo and Cassill are defendants, the lawsuit also targets Dallas Mavericks owner Mark Cuban. Investors allege fraud in purchasing unregistered securities with false promises of profits.
Related lawsuits against the NBA, McCarter & English, and Ketchum Inc. were also merged into this case.
Moreover, Voyager’s Chapter 11 filing in July 2022 amid financial turmoil and failed sales attempts to FTX and Binance (BN) US has further complicated this legal situation.
While investors navigate these complexities through legal representation, the outcome of this litigation will undoubtedly shape the trajectory of cryptocurrency regulation and investor protection.