Tom Brady, Steph Curry, Other Celebs Make Their Defense In $11 Billion FTX Lawsuit

ftx arena tom brady steph curry lawsuit defense


Tom Brady, Steph Curry, and several other athletes and celebs who appeared in ads for FTX filed their defense in the massive $11 billion lawsuit that was filed against them last last year.

Brady, his ex-wife Gisele Bundchen, Curry, Shaquille O’Neal, Shohei Ohtani, Naomi Osaka, David Ortiz, Trevor Lawrence, Udonis Haslem and Larry David (but NOT Taylor Swift), were all named in the lawsuit due to endorsement deals they had with FTX.

Naturally, according to a new report by Sportico, they are all denying any culpability in the fraud.

In a petition filed in a Miami federal court, they claim that if they are found liable then “actors in any brokerage ad would be liable for selling any security that an individual user later purchased using the brokerage’s services.”

The celebrities also claim that the people suing them “fail to explain how a [celebrity] appearing next to FTX’s name, or saying things like ‘FTX, you in?’, misleads or deceives.”

In their motion to dismiss the lawsuit against them, the celebrities state, “Plaintiffs themselves, sophisticated investors, financial institutions, and even members of Congress all were unable to discern FTX’s fraud from the then-available information. It is implausible that simply ‘doing business’ with FTX was sufficient to put [celebrities] on notice of fraud (indeed, FTX premised an ad on Curry’s being ‘not an expert’ on cryptocurrency).”

Interestingly, they also claim that letting the lawsuit go forward would “raise First Amendment concerns.”

There has been much written, including a frighteningly detailed conspiracy theory, about how Tom Brady and Gisele Bundchen may have already lost millions of dollars due to the FTX scandal.

According to Insider, a filing revealed Brady owns 1.1 million common shares of FTX stock and Bundchen has a little under 700,000 in her portfolio.

If true, that would mean their shares were respectively worth $45 million and $25 million as of June of 2021. Now, of course, they are worth zero dollars.

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Before settling down at BroBible, Douglas Charles, a graduate of the University of Iowa (Go Hawks), owned and operated a wide assortment of websites. He is also one of the few White Sox fans out there and thinks Michael Jordan is, hands down, the GOAT.