EthereumMax investors lose court case against Floyd Mayweather and Kim Kardashian

The American court found Floyd Mayweather and Kim Kardashian not guilty in the case against EthereumMax and dismissed the claim of the plaintiffs who accused the boxer and movie star and fashion model of lost funds.

In January, they were filed with an application according to which investors paid too much price for a token that was advertised by the stars. Paul Pierce, a well-known basketball player who previously played for the Boston Celtics, also appeared as a defendant in this case.

Michael Fitzgerald, one of the US judges in Los Angeles, made a ruling that investors cannot prove the intentional overhyping of this coin for profit. In addition, he drew attention to the fact that investors applied after they lost money, and not during the advertising.

However, he said that if the plaintiffs want to, they can file another lawsuit to face off with lawyers defending the interests of Kim Kardashian and Floyd Mayweather. In response to this, Sean Masson, an investor lawyer, believes that the case should be reviewed, and the investors' claim will be supplemented with new facts about violations.

EthereumMax gained great popularity in the spring of 2021. Basketball player Paul Pierce published another advertising post on his Twitter on May 26, after which investors began to take profits, and the token fell by more than 80% in 11 days.

Floyd Mayweather later also helped promote the token, appearing at the weigh-ins and eye battles against blogger Logan Paul in June wearing an EthereumMax T-shirt. The effect was boosted with a new Instagram post by Kim Kardashian in mid-June. After that incident, the price fell by 99.7%.

After 2 months, Kim's lawyers filed an application with the court, in which they asked to reject the investor's filed. As the main argument, they called the understatement of the fact that it was Kardashian's posts that could force the plaintiffs to purchase EthereumMax tokens.

The US Securities and Exchange Commission (SEC) reported in October that it had already settled with Kim Kardashian all charges of violating the law while promoting EthereumMax. The star agreed to pay a fine of $1,260,000, which also includes interest on illegally earned profits.