Former Celsius Boss Alex Mashinsky Seeks Dismissal of FTC Lawsuit

Alex Mashinsky, the erstwhile CEO of Celsius Network, has filed a question to disregard the Federal Trade Commission (FTC) suit against him. In the motion, Mashinsky argues the FTC has failed to allege helium violated immoderate laws oregon rules. His lawyers accidental the FTC is not entitled to monetary alleviation and cannot substantiate Mashinsky is presently violating the law.

Mashinsky Fights Back: Former Celsius CEO Challenges FTC Lawsuit, Claims No Legal Violations

In a memorandum filed September 11, 2023, Mashinsky’s ineligible squad asserts the FTC ailment does not amusement helium breached the Federal Trade Commission Act. His lawyers assertion the FTC cannot question monetary damages nether the Act per a 2021 Supreme Court ruling.

“The ailment cannot substantiate a assertion that Mashinsky ‘is violating’ oregon is ‘about to violate’ the instrumentality due to the fact that Mashinsky resigned from his presumption arsenic CEO of Celsius [on] September 27, 2023,” the tribunal filing reads.

The memorandum states the FTC’s allegations neglect to enactment that Mashinsky knowingly made mendacious statements to deceptively get lawsuit data. This purportedly does not conscionable the requirements to allege a usurpation of the Gramm-Leach-Bliley Act. Mashinsky’s lawyers besides contend the FTC has not demonstrated grounds for monetary alleviation nether the Act.

In their filing, Mashinsky’s attorneys inquire the tribunal to disregard the FTC’s Federal Trade Commission Act and Gramm-Leach-Bliley Act claims against him. They reason the ailment does not found that Mashinsky broke immoderate laws oregon regulations. When helium was officially charged by the FTC, Mashinsky “vehemently” denied the allegations.

What bash you deliberation astir the question to disregard filing submitted by Alex Mashinsky’s ineligible team? Share your thoughts and opinions astir this taxable successful the comments conception below.