EthereumMax investors secure partial win in class-action lawsuit
Four state-level lawsuits against three celebrities and individuals tied to the EMAX token may proceed after a California judge’s ruling.
Investors who were parties to a 2022 lawsuit may be closer to pursuing legal action against celebrities who promoted the EthereumMax (EMAX) token after a recent decision by a California judge.
In a Wednesday filing in the US District Court for the Central District of California, Judge Michael Fitzgerald granted a motion allowing class-action lawsuits filed in four US states to move forward, but denied the request for a nationwide class against EMAX promoters. The order will allow cases involving investors who purchased EMAX between May 2021 and June 2021 to continue in New York, California, Florida and New Jersey.
“Plaintiffs have demonstrated that the proposed state classes comport with the requirements of Federal Rules of Civil Procedure,” the Wednesday filing reads. “However, the risk of inappropriate extraterritorial application of California and Florida law is simply too high with regard to the proposed Nationwide Class, as is the risk of individuated questions not amenable to common proof at trial.”
