A federal judge has dismissed a cryptocurrency lawsuit filed in 2022 against the Dallas Mavericks and former majority owner Mark Cuban.
In an order dated Dec. 26, Judge Roy K. Altman of the U.S. District Court for the Southern District of Florida said the plaintiffs failed to establish personal jurisdiction over Cuban and the team.
The lawsuit had argued that Cuban induced the plaintiffs to open interest-bearing accounts with Voyager when he said during a Mavericks news conference in October 2021 that he had personally invested in the company. The Mavericks later tweeted that customers who downloaded the app, created an account, deposited $100 and made one trade would receive $100 in free Bitcoin.
Cuban’s attorneys had argued that Cuban warned people to be careful with their money, that the Voyager assets in question were not securities and therefore not subject to regulations related to promotional activity, and that the court where the case was filed had no jurisdiction over Cuban and the team.
Cuban has since sold his majority stake in the Mavericks to casino magnate Miriam Adelson.
“We couldn’t be more pleased with the absolute right result,” Steve Best, lead counsel for Cuban and the Mavericks, told ESPN on Wednesday. “I suspect that the plaintiffs will consider filing in another jurisdiction. … I look forward to defending Mark and the Mavericks in any jurisdiction in this country.
“Mark doesn’t settle when he believes he is on the right side of the law.”
Attorneys for the plaintiffs didn’t immediately respond to messages seeking comment Wednesday.
Former NFL tight end Rob Gronkowski, former NBA player Victor Oladipo and NASCAR driver Landon Cassill were previously named as defendants in the Voyager suit but have since settled.
The lawsuit was one of several filed against athletes and celebrities who promoted now-bankrupt cryptocurrency platforms, including Voyager.
