Kim Kardashian legal team tries to dismiss EthereumMax ‘pump and dump’ lawsuit

Kim Kardashian’s legal team has filed a motion to dismiss a class-action complaint aimed at the businesswoman and other American celebrities.

Kardashian and some other American social media influencers were served a class action lawsuit in January 2022 for allegedly misleding investors through the social media promotion of a cryptocurrency token called EthereumMax.

Kardashian had posted Instagram story posts promoting the project in June 2021.

Boxing great Floyd Mayweather is also embroiled in the lawsuit after promoting the Ethereum-based token in the build-up to a celebrity boxing bout against Youtuber Logan Paul during the same period.

The tokens surged after the promotion of Kardashian and other influencers. The value of EthereumMax dropped significantly afterwards, leaving many with losses.

Steve Gentile and Giovanni Perone were listed as co-founders of the project.

Kardashian’s legal team has argued for the dismissal of the class action lawsuit.

inbrought against the influencer. A key point was Kardashian’s Instagram stories in question:

The filing also argued that the plaintiffs’ claims that influencers were paid in Ethereum (ETH) to promote EMAX were unfounded, given their lack of evidence that Kardashian had received financial compensation for her Instagram posts.

Kardashian’s legal team also highlighted that there was no evidence put forward of Kardashian ever purchasing, receiving, or selling the tokens herself.