Truth TV celebrity Kim Kardashian and boxing legend Floyd Mayweather Jr are dealing with a lawsuit alleging the celebs misled buyers of their promotion of a cryptocurrency token.

The lawsuit, filed on January 7 in Los Angeles federal courtroom, claims the celebs touted tokens offered via EthereumMax, or EMAX, with a purpose to spice up its value and make themselves a benefit “on the expense in their fans and buyers”.

“The corporate’s executives, taking part with a number of famous person promoters … made false or deceptive statements about EthereumMax thru social media commercials and different promotional actions,” the lawsuit mentioned.

In line with the lawsuit, Kardashian promoted EthereumMax in a June 2021 submit on Instagram, when she had 250 million fans.

“Are you guys into crypto?” she wrote within the submit, adopted via the disclaimer “this isn’t monetary recommendation”, however that she sought after to percentage “what my pals simply advised me” in regards to the EthereumMax tokens.

She incorporated the #AD hashtag to turn the submit was once a paid commercial, the lawsuit mentioned.

Mayweather promoted EthereumMax on his boxing trunks all the way through a broadly considered battle with YouTube celebrity Logan Paul in June, amongst different instances.

Representatives for Kardashian and Mayweather didn’t in an instant reply to requests for remark.

EthereumMax, the corporate, was once additionally named within the lawsuit.

“The misleading narrative related to the new allegations is riddled with incorrect information in regards to the EthereumMax challenge,” EthereumMax mentioned in a commentary.

“We dispute the allegations and look ahead to the reality popping out.”

The lawsuit, filed via a New York resident who purchased EMAX tokens and misplaced cash, is proposed as a class-action swimsuit for someone who purchased EMAX tokens from mid-Would possibly to past due June 2021.

The case seeks restitution and disgorgement of income via the defendants.

Australian Related Press