In a surprising turn of events, Naomi Osaka may be able to avoid being held accountable in the FTX case.
If Osaka was not properly informed about the lawsuit against the cryptocurrency exchange FTX, the athlete cannot be held liable, according to US District Judge Kevin Moore. The FTX lawsuit accuses celebrities like Shaquille O’Neal, Tom Brady, and Naomi Osaka of promoting a "fraudulent scheme" to exploit retail investors who lack knowledge about cryptocurrency.
But, because Osaka, who is currently expecting her first child, was not notified, the lawsuit's progress has been hampered, and the plaintiffs must now defend Osaka against dismissal. The former world number one Osaka might score a big victory if her lawsuit is denied.
On the other hand, if Osaka's name is cleared from the lawsuit, it could have significant implications for the other celebrities involved.
As a result of the FTX lawsuit, which has damaged their image, others may be able to avoid responsibility if the plaintiffs are unable to demonstrate that they were adequately informed.
It will be intriguing to follow the FTX lawsuit's development and what Naomi Osaka and the other celebrities involved can expect from the verdict as the case develops. Retail investors were reportedly taken advantage of through a fraudulent plan, despite the fact that the absence of notification may give certain people a way to avoid accountability.
The FTX lawsuit highlights the need for greater regulation and transparency in the cryptocurrency world, a topic that will undoubtedly be at the forefront of discussions in the coming months. The order from Judge Kevin Moore reads:
"Accordingly, UPON CONSIDERATION of the pertinent portions of the record, and being otherwise fully advised in the premises, it is hereby ORDERED AND ADJUDGED that Plaintiffs are ORDERED TO SHOW CAUSE why Naomi Osaka and Shaquille Oneil should not be dismissed for failure to serve."
More must-reads: