Binance customers are seeking approval from a Florida federal court to file a $1 billion class-action lawsuit against soccer star Cristiano Ronaldo, via X and a website publishing company.
The motion revealed that a dedicated website has been created for this case material, which will be sent "not only to defendant Ronaldo's verified Twitter account, but also to the email addresses of his domestic attorneys involved in the ongoing U.S. federal litigation."
The plaintiff was unable to obtain the football star's current address
The January 16 document proposes alternative ways to contact the famous football player through non-traditional channels due to difficulties with traditional channels. The uncertainty of Ronaldo's current address in Saudi Arabia was the core argument of the customers for this order.
The plaintiff also claimed that the Hague Convention did not prohibit this method when the person's address was unknown.
Ronaldo has been accused of promoting non-fungible tokens (NFTs) associated with the embattled Binance. The lawsuit, filed on November 27 in the Southern District Court of Florida, claims that the soccer star’s partnership with Binance was both deceptive and illegal.
Binance customers have previously suffered losses as a result of these promotions. The filing alleges that Ronaldo “promoted, facilitated, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.”
Cristiano Ronaldo shows off his soccer skills in Binance ad.
pic.twitter.com/C8GbQddUFn
- CR7's PR Manager (@RONALDOthabeast)
January 17, 2024
Cristiano Ronaldo does not disclose payment from Binance
The lawsuit also cites a cautionary tale from the U.S. Securities and Exchange Commission (SEC) warning celebrities to disclose payments received for promoting digital assets, an obligation Ronaldo allegedly failed to meet.
The lawsuit was filed after Binance reached a multi-year partnership agreement with Ronaldo in mid-2022 to promote a series of NFTs. At least three of the soccer star’s collections are associated with the crypto exchange.
Ronaldo isn’t the only celebrity facing legal challenges for promoting digital assets. Following the FTX debacle, there was also a class-action lawsuit filed against Tom Brady, his supermodel ex-wife Gisele Bundchen, Stephen Curry, and “Shark Tank” star Kevin O’Leary.
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