American football star Trevor Lawrence is one of three celebrities who have agreed to settle after being named in an FTX class-action lawsuit.
Terms Of Settlement
According to a Bloomberg report, the NFL quarterback’s intention to settle was made known in court documents filed on September 15. However, the terms of the settlement weren’t disclosed. This isn’t unusual, as some settlement agreements are kept confidential to prevent either party from disclosing the terms of the document, which the other party may want to be kept a secret.
Lawrence was one of many celebrities who was sued in a class action suit by investors of the bankrupt crypto exchange FTX for their role in promoting the crypto exchange, which eventually led to the company’s former CEO Sam Bankman-Fried (SBF) duping investors of their money.
It is not uncommon for such lawsuits to arise as endorsements of a crypto project (especially a failed one), as often landed these celebrities in hot water. For one, investors argue that these celebrities made misleading statements about the project’s legitimacy, which caused them to suffer financial loss.
In Lawrence’s case, he signed a long-term deal with F
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Author: Scott Matherson
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