FTX-Linked Celebrities, Influencers Sidestep Most Claims (1)

Allegations against celebrities and YouTube influencers for promoting FTX before the exchange’s collapse mostly fell short, a federal court ruled.

Tom Brady and other sports and entertainment figures and entities partly succeeded on their request for dismissal, but the investors suing them will be able to re-plead their claims. And the investors can proceed with securities claims under Florida and Oklahoma law, Judge K. Michael Moore said Wednesday for the US District Court for the Southern District of Florida.

The claims against the celebrities and influencers largely foundered on the requirement to show fraudulent intent or actual knowledge under securities ...