Kim Kardashian files a motion in U.S District Court to prove her innocence in Ethereum Max Lawsuit
American socialite and media celebrity Kim Kardashian is one of the most well-known and adored people on the planet. They receive a lot of attention for any activity they engage in. Because she has a large fan base, she partnered with EthereumMax to market the token through her social media networks. Typically, these people’s admirers or fans follow them blindly, which can lead to unfortunate outcomes.
In one such case, Kim Kardashian was requested to advertise a cryptocurrency. The token was dumped after being purchased by a large number of her followers, losing 70% of its value and distressing the investors. As the investors grew irate, they continued to accuse Kim Kardashian of duping them into buying Ethereum Max. Paul Pierce and Floyd Mayweather were also held accountable, in addition to Kim. Huegerich, one of the plaintiffs, then filed a case and accused the defendants of falsely portraying the company as having excellent prospects and significant return margins. In particular, Kim Kardashian, in particular, filed a motion in U.S. District Court as the case developed to establish her innocence and have the accusation against her dismissed.
Kim Kardashian claims in the complaint filed on Friday that the token buyers are only relying on two of her Instagram posts and that the well-known individual did not provide investment advice in those posts. She continued by saying that none of the accusers had said that they had purchased the coin after reading her articles about it. She continued by stating that no financial advice was being given in the article.
Investors may view the claims as justified because Kim is a well-known figure and has the potential to have a large following. However, if we take a critical look at the scenario, it is the investors’ fault for failing to conduct a thorough market analysis of the currency and for following the post blindly. From Kim’s perspective, her motion filing is acceptable because she made it clear that it wasn’t a post that offered financial advice. Perhaps she encouraged it for her personal gain.
We frequently witness scenarios where a celebrity or influencer is accused of endorsing a product that is unpopular with the general public. For Kim, this is not the first time she has been sued for endorsing a product. Numerous consumers of cosmetic products and even businesses have sued her for a variety of reasons.