A class action lawsuit has been filed in a Florida circuit court against soccer star Cristiano Ronaldo. Investors claim to have suffered losses due to his promotion of cryptocurrency exchange Binance.
According to the lawsuit, Cristiano Ronaldo actively participated in the offer and sale of unregistered securities on the Binance trading platform. They’re certain: Ronaldo was aware that Binance was selling unregistered securities on the cryptocurrency market because he had “vast resources” to bring in outside counsel.
The class action lawsuit also cites SEC guidelines for celebrities who are required to disclose receiving remuneration for promoting cryptocurrencies, but Ronaldo did not do so. The plaintiffs sought damages and legal costs.
The complaint against the famous soccer player was filed after Binance and its founder Changpeng Zhao ran into legal troubles