A federal judge narrowed but stopped short of dismissing a lawsuit by investors seeking to hold celebrities like sports stars Tom Brady, Stephen Curry and Shohei Ohtani liable for promoting the collapsed cryptocurrency exchange FTX.
The investors said the defendants ignored “red flags” and hid millions of dollars of payments to promote FTX as “brand ambassadors,” as part of a civil conspiracy with Sam Bankman-Fried’s exchange to defraud them into becoming customers.
In a 49-page decision on Wednesday, U.S. District Judge K. Michael Moore in Miami dismissed 12 of the 14 claims, saying the investors