1 year ago
Billionaire Mark Cuban is acceptable to beryllium deposed connected Feb. 2 successful Dallas, Texas implicit his promotions of defunct crypto lender Voyager Digital, according to a court order. The Dallas Mavericks proprietor volition beryllium deposed arsenic portion of the class-action suit filed by Voyager investors.
A deposition involves answering questions nether oath that are noted arsenic ceremonial statements to beryllium utilized during the trial.
On Jan. 6, U.S. magistrate justice Lisette M. Reid denied Cuban’s petition to divided his deposition into 2 parts. Judge Reid of the U.S. District Court of the Southern District of Florida ordered that Cuban’s deposition volition not beryllium constricted to jurisdictional issues.
As portion of the defense, Dallas Mavericks employees Ryan Mackey and Kyle Tapply volition beryllium deposed by Feb. 23, Reid ordered. The find grounds related to Mackey and Tapply has to beryllium handed implicit to the plaintiffs by the extremity of January, the tribunal bid added.
Furthermore, the justice ordered the deposition of 3 Florida-based Plaintiffs to beryllium held by Jan. 24. According to the order, plaintiffs Pierce Robertson volition beryllium deposed this week, Rachel Gold volition beryllium deposed connected Jan. 23, and Sanford Gold volition beryllium deposed connected Jan. 23, oregon 24.
Additionally, a non-party Eric Rares volition besides beryllium deposed by Jan 23 oregon 24, the tribunal bid said. The justice besides ordered the plaintiffs to nutrient each grounds regarding their Voyager accounts and related documents by Jan. 13.
The plaintiff’s counsel was gladsome that the tribunal unopen down Cuban’s “attempts to enactment and hold discovery.” In a connection to Law360, the plaintiff’s counsel said:
“We person been litigating connected behalf of hundreds of injured Voyager investors for much than a twelvemonth and volition yet beryllium capable to uncover grounds of what transpired, and afloat recognize to what grade Mr. Cuban, and his Dallas Mavericks, were progressive successful the ‘offering’ of these unregistered securities and to what grade helium was to profit.”
Cuban’s lawyer told Law360 that the deposition of the plaintiffs volition encompass “issues of standing, alleged mendacious statements included successful the complaint, and questions astir the Voyager accounts held by the plaintiffs.”
The class-action suit was filed against Cuban connected Aug. 10, alleging that Cuban misrepresented Voyager connected aggregate occasions and promoted it arsenic being inexpensive and commission-free. Voyager declared bankruptcy connected July 5, a fewer days aft hedge money Three Arrows Capital (3AC) — which owed implicit $650 cardinal to Voyager, — became defunct.
Voyager owes implicit 3.5 cardinal users much than $5 billion.
The plaintiffs judge Cuban should beryllium held accountable for luring “unsophisticated investors” with “false and misleading promises” of ample profits. Voyager was akin to a Ponzi scheme, the plaintiffs claim.
The station Mark Cuban to beryllium deposed successful February implicit Voyager promotions appeared archetypal connected CryptoSlate.
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