Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. are facing a lawsuit alleging the celebrities misled investors in their promotion of a cryptocurrency token.
The lawsuit, filed Jan. 7 in Los Angeles federal court, claims the celebrities touted tokens sold by EthereumMax, or EMAX, in order to boost its price and make themselves a profit"at the expense of their followers and investors.""The company's executives, collaborating with several celebrity promoters ... made false or misleading statements about EthereumMax through social media advertisements and other promotional activities," the lawsuit stated.
She included the #AD hashtag to show the post was a paid advertisement, the lawsuit said.Read MoreMayweather promoted EthereumMax on his boxing trunks during a widely viewed fight with YouTube star Logan Paul in June, among other times.Representatives for Kardashian and Mayweather did not immediately respond to requests for comment.EthereumMax, the company, was also named in the lawsuit.
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