New developments reveal that three well-known sports icons from the United States have consented to jointly pay a total of $2.42 million in order to resolve claims that they helped promote the now-defunct crypto platform Voyager Digital.
Former NFL legend Rob 'Gronk' Gronkowski, NBA athlete Victor Oladipo, and NASCAR star Landon Cassill have settled the dispute without confirming or denying the accusations made against them.
TLDR
- Rob Gronkowski, Victor Oladipo, and Landon Cassill agree on a $2.42 million resolution regarding claims tied to their promotion of the failed crypto exchange Voyager Digital.
- Gronkowski is set to contribute the most substantial portion of $1.9 million, with Oladipo and Cassill paying $500,000 and $25,000 respectively.
- The settlement on the table is offered to U.S. residents who participated in a Voyager Earn Program Account or purchased VGX tokens between October 2019 and the date of preliminary approval.
- Plaintiffs are planning to propose a request for about $792,000 in attorney fees, aside from endorsing the $2.4 million settlement agreement.
- In the class action lawsuit, the primary defendant identified is Mark Cuban, a Dallas Mavericks minority owner, with Gronkowski and others being added as promoters of Voyager in 2023.
Out of the three athletes, Gronkowski faces the biggest payout responsibility, putting forth $1.9 million. The ex-New England Patriots tight end was involved with Voyager as a partner, ambassador, shareholder, and VGX tokenholder by September 2021.
His genuine concern for his fans, despite experiencing financial loss himself with Voyager, is one of the key reasons he has opted to settle.
Oladipo and Cassill Also Contribute
NBA All-Star Victor Oladipo has decided to contribute $500,000, while Landon Cassill of NASCAR fame is adding $25,000 to the collective settlement fund. The $2.42 million settlement arranged will aid U.S. residents who signed up for a Voyager Earn Program Account or VGX tokens from October 2019 to the point of preliminary approval.
Attorney Fees and Settlement Scope
On top of the $2.4 million settlement, plaintiffs aim to seek a substantial $792,000 as legal fees. The settlements were brokered through mediation efforts, aiming to tackle issues surrounding whether Voyager's offerings were unregistered securities and the role of the promoters in attracting investors.
Mark Cuban Remains a Defendant
While Gronkowski, Oladipo, and Cassill have settled, Mark Cuban, a minority owner of the Dallas Mavericks, remains the central accused in the lawsuit. The billionaire was anticipated to give a deposition in February as part of his defense strategy in the legal battle. The trial involving Cuban and the Dallas Mavericks is set to take place in November 2024.
