Entrepreneur Mark Cuban was sued in the Voyager digital class action lawsuit due to Voyager's sponsorship package with his NBA team, the Dallas Mavericks. The lawsuit was filed a week ago, but there is no sign of the case moving forward.
In that case, 12 attorneys from Florida's Moskowitz law firm are representing more than 3 million US citizens who lost their investment of more than $5 billion in Voyager. The lawsuit seeks compensation for damages from Cuban and Voyager CEO Stephen Ehrlich.
Hardcore bitcoin critic Peter Schiff has claimed that just like him, Cuban used to believe bitcoin was a scam, but he sneaked into it to make a profit from the ongoing crypto craze. Schiff also claims that lawyers are the ultimate winners because, in crypto, people who lose money will sue those who make money.
However, the court proceedings yet have to be started, it is noticed that, nowadays, courts do not easily treat a law firm as the representative of a large number of people from different states. A major problem with the lawsuit is that it may have to first certify the number of US investors and the details of the investment amount.