kardashian

ChainCatcher news, according to CNBC, a federal judge dismissed a proposed class action lawsuit against EthereumMax founder and celebrities like Kim Kardashian and boxer Floyd Mayweather for promoting the cryptocurrency.Plaintiff Ryan Huegrich filed the lawsuit earlier this year on behalf of all investors who purchased EthereumMax tokens between May 14 and June 17, 2021. Last October, Kardashian was accused by the U.S. Securities and Exchange Commission (SEC) of illegally promoting the EtherumMax tokens; she did not admit or deny any findings from the regulator and agreed to pay $1.26 million.The judge stated that the plaintiff's claims were not sufficiently supported, particularly "given the higher pleading standard for fraud claims," but he would allow the plaintiff's attorneys to refile after amending some of their claims based on certain statutes cited in the original complaint. (source link)

Chain Catcher News, the U.S. Securities and Exchange Commission (SEC) announced that it is suing Kim Kardashian for promoting EthereumMax crypto securities on social media without disclosing the details of the promotional payments she received. Kim Kardashian stated that she agreed to settle and will pay $1.26 million (which includes $260,000 in advertising fees and a $1 million penalty) and will cooperate with the SEC's ongoing investigation.SEC Chairman Gary Gensler commented that Ms. Kardashian's case serves as a reminder to celebrities and others that the law requires them to disclose the time and compensation for promoting securities investments to the public. (Source link)