Current：Home > NewsNBA sued by investors over ties to failed crypto exchange Voyager -Wealth Evolution Experts
NBA sued by investors over ties to failed crypto exchange Voyager
View
Date：2025-04-15 12:24:03
The National Basketball Association is being sued for its promotion of defunct crypto exchange Voyager Digital Holdings, which investors allege led to losses of more than $4.2 billion.
The NBA was "grossly negligent" for approving a marketing deal between Voyager and the Dallas Mavericks, according to lawsuit filed Tuesday in a Miami district court. "The NBA's widespread promotion of Voyager's unregistered securities renders it liable for any and all resulting damages."
The suit also names Voyager's law firm, McCarter & English, alleging it used its credibility to assure investors that Voyager's offerings were "entirely above board," the document contends.
The same group in 2022 sued Mark Cuban, the former owner of the Mavericks, claiming he misled them about Voyager. Cuban denied the allegations.
Voyager filed for bankruptcy in July 2022 due to exposure to the failed crypto hedge fund Three Arrows Capital.
The NBA and McCarter & English did not immediately respond to a request for comment.
Kate GibsonKate Gibson is a reporter for CBS MoneyWatch in New York.
veryGood！ (35)
Related
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Baby’s body found by worker at South Dakota recycling center
- American Sam Watson sets record in the speed climb but it's not enough for Olympic gold
- Why Kansas City Chiefs’ Harrison Butker Is Doubling Down on Controversial Speech Comments
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Flood damage outpaces some repairs in hard-hit Vermont town
- Get an Extra 50% Off J.Crew Sale Styles, 50% Off Banana Republic, 40% Off Brooklinen & More Deals
- Get an Extra 50% Off J.Crew Sale Styles, 50% Off Banana Republic, 40% Off Brooklinen & More Deals
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Harris and Walz head to Arizona, where a VP runner-up could still make a difference
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Fewer Americans file for jobless benefits last week, but applications remain slightly elevated
- See first look at Travis Kelce hosting 'Are You Smarter Than a Celebrity?'
- The 10 college football transfers that will have the biggest impact
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Simone Biles Details Bad Botox Experience That Stopped Her From Getting the Cosmetic Procedure
- Who Is Olympian Raven Saunders: All About the Masked Shot Put Star
- Shabby, leaky courthouse? Mississippi prosecutor pays for grand juries to meet in hotel instead
Recommendation
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Older pilots with unmatchable experience are key to the US aerial firefighting fleet
Inside an 'ambush': Standoff with conspiracy theorists left 1 Florida deputy killed, 2 injured
Handlers help raise half-sister patas monkeys born weeks apart at an upstate New York zoo
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Tell Me Lies' Explosive Season 2 Trailer Is Here—And the Dynamics Are Still Toxic AF
NYC’s ice cream museum is sued by a man who says he broke his ankle jumping into the sprinkle pool
Iranian brothers charged in alleged smuggling operation that led to deaths of 2 Navy SEALs