The judge awarded Voyager 2.4 million with Sports Stars
A legal settlement involving three sports stars has received initial approval from a Florida judge. The crypto company has agreed to pay Voyager Digital more than $2.4 million in monetary relief over claims it allegedly fueled.
On June 10 in the United States District Court for the Southern District of Florida, Judge Roy Altman granted preliminary approval of a class action involving NFL star Robert Gronkowski, NBA player Victor Oladipo and NASCAR driver Landon Cassil. Lawyers for the three sports figures agreed to pay nearly $2.4 million to settle the case, with Gronkowski alone paying $1.9 million.
In the year A class-action lawsuit filed in 2022 against former Dallas Mavericks owner Mark Cuban alleges the billionaire misrepresented Voyager's services, causing inexperienced investors to lose money when the company filed for bankruptcy. If given final approval by the court, the proposed settlement would resolve the cases for Gronkowski, Oladipo and Cassil but not for Cuban or the Mavericks.
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The civil suit is unrelated to other legal proceedings filed by Voyager's creditors since 2022. The firm has been in bankruptcy court and dealt with claims on funds from Three Arrows Capital and defunct crypto exchange FTX.
In April, a judge signed off on a motion in which FTX “waives any and all rights” to nearly $450 million to compensate Voyager's creditors. In the year A federal judge ordered Voyager and its affiliates to pay more than $1.6 billion in restitution to the U.S. Federal Trade Commission in 2023.
The U.S. Commodity Futures Trading Commission and the Federal Trade Commission filed similar charges against former Voyager CEO Stephen Ehrlich for allegedly making fraudulent statements related to the company's services. The issues were ongoing at the time of going to press.
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