U.S. District Court for the Southern District of Florida in Miami. (Credit: Michael A. Mora/ALM) Crypto Investors Sue NBA, McCarter & English
"In so doing, McCarter & English was so reckless and grossly negligent in their work that they crossed the line into soliciting the sale of unregistered securities and in actively participating in and enabling this RICO Conspiracy that has caused …billions in damages," the plaintiffs alleged in the nearly 110-page lawsuit.
February 07, 2024 at 10:45 AM
4 minute read
Litigation
The original version of this story was published on Daily Business Review
What You Need to Know
- The plaintiffs claim that the National Basketball Association and McCarter & English are responsible for $4.2 billion dollars in investor money.
- The NBA is accused of being grossly negligent with its review of the proposed Voyager and Dallas Mavericks global partnership.
- McCarter & English is accused of facilitating Voyager Digital Ltd.'s RICO Conspiracy.
Investors swindled out of billions of dollars from the implosion of a prominent cryptocurrency platform have now set their sights on the National Basketball Association and an Am Law 200 firm to recoup their losses.
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