Mark Cuban to be deposed in February over Voyager promotions

Hull Invest

Billionaire Mark Cuban is set to be fired on Feb. 2 in Dallas, Texas, for promoting defunct cryptocurrency lender Voyager Digital. court orderThe owner of the Dallas Mavericks is set to be fired as part of a class action lawsuit filed by Voyager investors.

A deposition involves answering questions under oath that are set forth as formal statements used during a trial.

On January 6, US Justice of the Peace Lisette M. Reed rejected Cuba’s request to divide the deposition into two parts. Judge Reid of the United States District Court for the Southern District of Florida ordered that Cuban’s deposition not be limited to issues of jurisdiction.

As part of the defense, Dallas Mavericks employees Ryan Mackey and Kyle Tapley will be fired by February 23, Reed ordered. It must be handed over to the plaintiffs on the same day, the court order added.

Additionally, the judge has ordered the depositions of three Florida-based plaintiffs to be stayed until January 24. According to the order, plaintiffs Pierce Robertson will be dismissed this week, Rachel Gold on his January 23rd, and Sanford Gold on her January 23rd. He was imprisoned on January 23rd or 24th.

Additionally, nonpartisan Eric Rares will also be dismissed by January 23 or 24, the court order said. The judge also ordered the plaintiff to provide all evidence regarding the Voyager account and related documents by January 13.

Plaintiffs’ attorneys were pleased that the court stopped Cuban’s “attempts to stay and delay discovery.” In a statement to Law360, the plaintiff’s attorney Said:

“We have been suing for over a year on behalf of hundreds of injured Voyager investors, but we have finally uncovered evidence of what happened and how Mr. Cuban and his Dallas Mavericks have been killed. You will be able to fully understand the extent to which he was involved in the sale of these unregistered securities and how much profit he was able to make. “

A Cuban attorney told Law360 that the plaintiff’s deposition will include “issues of position, alleged false statements contained in the complaint, and questions regarding the plaintiff’s Voyager account.”

A class action lawsuit submitted On August 10, Cuban claimed that it repeatedly misrepresented Voyager and advertised it as cheap and commission-free. Voyager declared bankruptcy on July 5, just days after hedge fund Three Arrows Capital (3AC), which owed him more than $650 million, disappeared.

Voyager has over $5 billion in debt to over 3.5 million users.

The plaintiffs believe that Cubans should be held responsible for luring “unsophisticated investors” with “false and misleading promises” that they will make large profits. Plaintiffs allege that Voyager resembled a Ponzi scheme.

Read the latest market report

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button