The suit, filed in San Francisco, also alleges Sam Bankman-Fried and Caroline Ellison were responsible for his losses. The lawsuit suggests the team’s decision to make FTX its “official cryptocurrency platform and NFT marketplace” amounted to fraudulent promotion of the embattled company, and as such, is seeking $5 million in damages.
Estimated reading time: 0 minutes, 29 seconds
Golden State Warriors Facing Class-action Suit in Wake of FTX Debacle
Elliott Lam, a Canadian resident living in Hong Kong, is seeking a class-action suit against the NBA’s Golden State Warriors, among others, in the wake of losing $750,000 as a result of FTX’s bankruptcy filing. So reports Business Insider.
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