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    <p>The National Basketball Association (NBA) and lawyers representing collapsed crypto lender Voyager Digital have been hit with a lawsuit over the promotion and defense of the firm that investors say led to $4.2 billion in losses.</p>
    <p>The lawsuit, filed on Tuesday, alleges the <a rel="noopener noreferrer nofollow" title="NBA" href="https://thebittimes.com/tag/nba.html">NBA</a> was “grossly negligent” when <a rel="noopener noreferrer nofollow" title="Mark Cuban" href="https://thebittimes.com/tag/mark-cuban.html">Mark Cuban</a>, the former owner of the Dallas Mavericks, struck a marketing deal with <a rel="noopener noreferrer nofollow" title="Voyager" href="https://thebittimes.com/tag/voyager.html">Voyager</a>.</p>
    <p>It claims that the <a rel="noopener noreferrer nofollow" title="NBA" href="https://thebittimes.com/tag/nba.html">NBA</a> accepted billions in promotional compensation as Covid left the association with “empty arenas and the loss of billions in television revenues.” It added that the <a rel="noopener noreferrer nofollow" title="NBA" href="https://thebittimes.com/tag/nba.html">NBA</a> leveraged its “global reputation and trust in the <a rel="noopener noreferrer nofollow" title="NBA" href="https://thebittimes.com/tag/nba.html">NBA</a> brand,” to promote the selling of unregistered and illegal securities to the public.</p>
    <p>McCarter &amp; English LLP, the law firm that represented Voyager, was alleged to have “<strong>produced fraudulent legal opinions</strong>” while maintaining Voyager was operating “entirely above board.”</p>
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      <blockquote class="wp-embedded-content" data-secret="2KqNR0wLW9">
       How billionaire Mark Cuban got revenge on DeFi with KlimaDAO
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“How billionaire Mark Cuban got revenge on DeFi with KlimaDAO” — Protos" src="https://protos.com/cuban-klimadao-mark-revenge-klima-polygon-bct-toucan-protocol/embed/#?secret=6G787IVhlA#?secret=2KqNR0wLW9" data-secret="2KqNR0wLW9" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: DoJ appeals against Voyager asset deal with Binance US</em></p>
    <p>Cuban was sued by <a rel="noopener noreferrer nofollow" title="Voyager" href="https://thebittimes.com/tag/voyager.html">Voyager</a> investors shortly after the lender went bankrupt in 2022. He was accused of shilling <a rel="noopener noreferrer nofollow" title="Voyager" href="https://thebittimes.com/tag/voyager.html">Voyager</a> Digital’s unregistered securities and contributing to the loss of billions in a Ponzi-style scheme.</p>
    <p>McCarter &amp; English reportedly said it will “vigorously defend the firm, which <strong>provided clear and competent advice to our clients</strong>.”</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/investors-sue-voyager-lawyers-and-nba-over-4b-in-losses-tbt79297.html">https://thebittimes.com/investors-sue-voyager-lawyers-and-nba-over-4b-in-losses-tbt79297.html</a></p>

Investors sue Voyager lawyers and NBA over $4B in losses

TheBitTimes

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