In a recent legal development, professional basketball star Jimmy Butler has asked to be removed from a class-action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance.
His lawyers argued that the tweets in question, which were made between February 2 and February 13 of 2022, did not promote the named securities as claimed in the lawsuit.
According to Butler’s legal team, the tweets he appeared in were meant to caution people about celebrity endorsements in the crypto space. They insisted that the posts did not recommend any investments but instead urged potential Binance customers to conduct their research before making any decisions.
Butler was engaged by Binance in 2022 to promote the exchange leading up to that year’s Super Bowl. He appeared in a video promoting a free nonfungible token (NFT) collection from Binance on February 2, 2022, and subsequently tweeted two more videos on February 7 and February 13.
A revised complaint on June 27 claimed that Butler’s statements were deceptive because they were featured alongside the promotion of Binance’s free NFTs and its exchange platform.
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Following Butler’s lead, Zhao, Binance, and Armstrong have also filed motions seeking dismissal of the lawsuit. In a separate ruling, finance YouTuber Graham Stephan was already dismissed from the suit on June 15.
