Trevor Lawrence, a prominent American football player, has recently agreed to a settlement following his involvement in an FTX class-action lawsuit. He is one of three celebrities who have reached a settlement in this case.
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NFL Player Faces FTX Lawsuit Settlement.
According to court documents filed on September 15, NFL quarterback Lawrence has expressed his intention to settle the class action lawsuit filed against him by investors of the bankrupt crypto exchange FTX. The terms of the settlement have not been disclosed, which is not unusual as some settlement agreements are kept confidential to prevent either party from disclosing the terms of the document. Lawrence, along with other celebrities, was sued for their role in promoting the crypto exchange, which led to investors losing their money. NFL Player Faces FTX Lawsuit Settlement.
imilar lawsuits have arisen in the past due to endorsements of failed crypto projects. Lawrence had signed a long-term deal with FTX's crypto portfolio tracking app, Blockfolio, which included a significant signing bonus paid in cryptocurrency. The report also revealed that YouTube influencers Kevin Paffrath and Tom Nash had agreed to settle in the same class action suit. The lawyers representing the plaintiffs stated that they are engaged in ongoing confidential settlement discussions with the other defendants named in the suit and that other settlements are imminent.
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Lawrence Faces Another Lawsuit
FTX, a crypto exchange, has filed a lawsuit against several celebrities, including Lawrence, O’Leary, Osaka, David Ortiz, and even the Golden State Warriors basketball team, in an effort to recover promotional payments made to them. FTX paid Lawrence $205,555 to promote the exchange and is seeking to recover payments made to others as well. The filing also names companies like GameStop, Fortune Media, and Coachella Music Festival, LLC. The recovery plan includes the $3,398,046 paid by FTX to secure the naming rights of the Miami Heat's arena, which was renamed FTX Arena in 2021 but has since been changed to the Kaseya Center following FTX's collapse.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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