Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sports-stars-settle-in-voyager-digital-lawsuit-for-2-42-million/" data-wpel-link="internal">Sports Stars Settle in Voyager Digital Lawsuit for $2.42 Million</a><br></p>
<p style="text-align: justify">Recently, prominent figures in American sports took a significant step in a lawsuit against Voyager Digital. Retired <strong>NFL</strong> star Rob “Gronk” Gronkowski, NBA player Victor Oladipo, and NASCAR driver Landon Cassill collectively reached a $2.42 million settlement to resolve allegations of their roles in promoting Voyager Digital.</p> 
<h2 style="text-align: justify" id="what-are-the-details-of-the-payments">What Are the Details of the Payments?</h2> 
<p style="text-align: justify">According to the class action settlement filed on May 3, Gronkowski will pay the largest portion, amounting to $1.9 million. Oladipo will pay $500,000, and Cassill will contribute $25,000. All three sports stars accepted the settlement without admitting or denying the accusations.</p> 
<p style="text-align: justify">This settlement proposal covers all US individuals who registered for a Voyager Earnings Program Account or purchased VGX tokens before October 2019. In addition to approving the $2.4 million settlement, the plaintiffs plan to request approximately $792,000 in attorney fees.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-348931 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/blockchain-79.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">In 2021, Gronkowski launched an <a href="https://en.coin-turk.com/opensea-experiences-significant-drop-in-monthly-nft-sales/" data-wpel-link="internal">NFT</a> collection and became a partner, “brand ambassador”, shareholder, and owner of VGX tokens at Voyager. The legal representative for the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>, Adam Moskowitz, stated that the athletes’ intentions to settle stemmed from a genuine desire to help their fans. Moskowitz noted, “Despite losing money with Voyager, Gronk developed sincere empathy for all his fans.”</p> 
<h2 style="text-align: justify" id="background-of-the-lawsuit">Background of the Lawsuit</h2> 
<p style="text-align: justify">A group of investors filed a class action lawsuit against Dallas Mavericks owner <strong>Mark Cuban</strong> in 2022, and later, in 2023, included Rob Gronkowski and other Voyager endorsers in the lawsuit process. The lawsuit primarily focused on whether Voyager products were unregistered securities and whether the endorsers misled investors.</p> 
<p style="text-align: justify">Throughout the lawsuit, several settlements were reached through mediation between the parties. These agreements aimed to resolve uncertainties in the industry and facilitate reconciliation among the parties. Particularly, efforts were made to correct <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> turmoil following Voyager Digital’s bankruptcy filing, events like the collapse of <strong>Terra/Luna</strong> in May and the default on loans given to the Three Arrows Capital hedge fund caused significant upheaval in the sector.</p> 
<p style="text-align: justify">However, in April, <strong>Voyager Digital</strong> took a significant step by providing $484 million to compensate its creditors. This funding was obtained through settlements with FTX, Three Arrows Capital, and Directors and Officers (D&amp;O) insurance claims.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sports-stars-settle-in-voyager-digital-lawsuit-for-2-42-million/" data-wpel-link="internal">Sports Stars Settle in Voyager Digital Lawsuit for $2.42 Million</a></h5>

Sports Stars Settle in Voyager Digital Lawsuit for $2.42 Million

Table of Contents

COINTURK NEWS

Other articles published on May 8, 2024

Nigeria Responds to Harsh Allegations by Cryptocurrency Exchange Binance

Maximize Profits with AI, RWA, and Gaming Tokens: A Comprehensive Guide for Crypto Enthusiasts

3 SOL-Based Meme Coins to Keep an Eye On as Volume Inflows into Solana Rise

US Bitcoin ETF Surges with 827K BTC, Challenging Global ETPs: Spotlight on Bitcoin (BTC)

Nigeria Responds to Binance’s Serious Allegations – Impact on BNB Coin (BNB)

Why Polygon and MATIC’s loss is LINK’s gain after it surges 10%

Join our free newsletter for daily crypto updates!