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Tag: Tom Brady

  • Tom Brady, Larry David, other celebrities named in FTX suit

    By Associated Press

    NEW YORK: A host of Hollywood and sports celebrities including Larry David and Tom Brady were named as defendants in a class-action lawsuit against cryptocurrency exchange FTX, arguing that their celebrity status made them culpable for promoting the firm’s failed business model.FTX has been in the public eye for more than a week after the third-largest cryptocurrency exchange ended up with billions of dollars worth of losses and had to seek bankruptcy protection on Friday. The Bahamas-based company and its founder, Sam Bankman-Fried, are under investigation by state and federal authorities for allegedly investing depositors’ funds in ventures without their approval.Lawmakers also announced plans to investigate the failure of FTX, with the House Financial Services Committee saying it plans to hold a hearing on FTX in December.Before its failure, FTX was known to use high-profile Hollywood and sports celebrities to promote its products. It had the naming rights to a Formula One racing team as well as a sports arena in Miami. Its commercials featured “Seinfeld” creator David, as well as Brady, the star quarterback of the Tampa Bay Buccaneers, basketball players Shaquille O’Neal and Stephen Curry, and tennis star Naomi Osaka.The lawsuit filed late Tuesday alleges that these sports and TV celebrities brought instant credibility to FTX, and should be held just as culpable as Bankman-Fried.

     Tampa Bay Buccaneers quarterback Tom Brady

    “Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment—like these Defendants—to raise funds and drive American consumers to invest … pouring billions of dollars into the deceptive FTX platform to keep the whole scheme afloat,” the lawsuit said.Class-action attorney Adam Moskowitz pointed to previous cases where the U.S. government fined celebrities Kim Kardashian and Floyd Mayweather for promoting crypto.

    ALSO READ | Cryptoexchange FTX fallout: What investors should know?“The crypto industry needed celebrity endorsers to get any credibility,” Moskowitz said.The plaintiff in the case is Pierce Robertson, who is also involved in a case involving Voyager Digital, another failed cryptocurrency company that was endorsed by Dallas Mavericks owner Mark Cuban.

    Voyager Digital failed for bankruptcy protection this summer, but FTX had pledged to buy Voyager’s assets for USD 1.4 billion, which would have led to financial relief for Voyager’s depositors. FTX’s failure now puts its aid to Voyager in question.The lawsuit was filed in the Southern District of Florida. Moskowitz is the attorney representing the victims in the collapse of a Florida residential tower in Surfside, Florida.

    ALSO READ | Size, scope of FTX failure gets clearer as users fear worstWell-known attorney David Boies, who represented the US government against Microsoft in the 90s and Al Gore in the 2000 election, is also named as an attorney on the case.The Miami Heat were starting a four-game road trip in Toronto on Wednesday. Forward Udonis Haslem, also named in the lawsuit, is away from the team for personal reasons.

    NEW YORK: A host of Hollywood and sports celebrities including Larry David and Tom Brady were named as defendants in a class-action lawsuit against cryptocurrency exchange FTX, arguing that their celebrity status made them culpable for promoting the firm’s failed business model.
    FTX has been in the public eye for more than a week after the third-largest cryptocurrency exchange ended up with billions of dollars worth of losses and had to seek bankruptcy protection on Friday. The Bahamas-based company and its founder, Sam Bankman-Fried, are under investigation by state and federal authorities for allegedly investing depositors’ funds in ventures without their approval.
    Lawmakers also announced plans to investigate the failure of FTX, with the House Financial Services Committee saying it plans to hold a hearing on FTX in December.
    Before its failure, FTX was known to use high-profile Hollywood and sports celebrities to promote its products. It had the naming rights to a Formula One racing team as well as a sports arena in Miami. Its commercials featured “Seinfeld” creator David, as well as Brady, the star quarterback of the Tampa Bay Buccaneers, basketball players Shaquille O’Neal and Stephen Curry, and tennis star Naomi Osaka.
    The lawsuit filed late Tuesday alleges that these sports and TV celebrities brought instant credibility to FTX, and should be held just as culpable as Bankman-Fried.

     Tampa Bay Buccaneers quarterback Tom Brady

    “Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment—like these Defendants—to raise funds and drive American consumers to invest … pouring billions of dollars into the deceptive FTX platform to keep the whole scheme afloat,” the lawsuit said.
    Class-action attorney Adam Moskowitz pointed to previous cases where the U.S. government fined celebrities Kim Kardashian and Floyd Mayweather for promoting crypto.

    ALSO READ | Cryptoexchange FTX fallout: What investors should know?
    “The crypto industry needed celebrity endorsers to get any credibility,” Moskowitz said.
    The plaintiff in the case is Pierce Robertson, who is also involved in a case involving Voyager Digital, another failed cryptocurrency company that was endorsed by Dallas Mavericks owner Mark Cuban.

    Voyager Digital failed for bankruptcy protection this summer, but FTX had pledged to buy Voyager’s assets for USD 1.4 billion, which would have led to financial relief for Voyager’s depositors. FTX’s failure now puts its aid to Voyager in question.
    The lawsuit was filed in the Southern District of Florida. Moskowitz is the attorney representing the victims in the collapse of a Florida residential tower in Surfside, Florida.

    ALSO READ | Size, scope of FTX failure gets clearer as users fear worst
    Well-known attorney David Boies, who represented the US government against Microsoft in the 90s and Al Gore in the 2000 election, is also named as an attorney on the case.
    The Miami Heat were starting a four-game road trip in Toronto on Wednesday. Forward Udonis Haslem, also named in the lawsuit, is away from the team for personal reasons.

  • Cameron Diaz returns to acting with Netflix’s ‘Back In Action’

    By PTI

    LOS ANGELES: Hollywood star Cameron Diaz is coming out of retirement for “Back In Action”, a Netflix film with Jamie Foxx.

    The project reunites Diaz and Foxx, who worked together on 1999’s sports drama “Any Given Sunday” and 2014’s “Annie” remake, which was Diaz’s final film role before “retiring”.

    Foxx made the announcement on social media, where he posted audio of him, Diaz and NFL star Tom Brady talking.

    “I don’t know how to do this, you know?” Diaz, who officially confirmed her retirement from Hollywood in 2018, says in the clip. 

    To which Brady says, “I was talking to Jamie, and he said you needed a few tips on how to un-retire. And I am relatively successful at un-retiring.”

    Brady, who won six Super Bowls with the New England Patriots, had retired earlier this year but returned to the field just weeks later.

    Foxx said he had to call in the GOAT, an acronym for ‘Greatest Of All Time’, to bring back another one.

    “…@CameronDiaz and I are BACK IN ACTION – our new movie with @NetflixFilm. Production starting later this year!!” the Oscar winner wrote in his tweet.

    Cameron I hope you aren’t mad I recorded this, but no turning back now. Had to call in the GOAT to bring back another GOAT. @CameronDiaz and I are BACK IN ACTION – our new movie with @NetflixFilm. Production starting later this year!! pic.twitter.com/vyaGrUmbWb
    — Jamie Foxx (@iamjamiefoxx) June 29, 2022
    Diaz, the star of “Charlie’s Angels” franchise and “There’s Something About Mary”, said only Foxx could have convinced her to return to films.

    “I can’t frickin wait it’s gonna be a blast!” she wrote in an Instagram Story following the announcement.

    According to Variety, Seth Gordon will direct the movie from a script he wrote with Brendan O’Brien. Plot details are being kept under wraps.

    Foxx is executive producing “Back in Action” with Datari Turner, O’Brien and Mark McNair. Producers are Beau Bauman for Good One Productions and Gordon via Exhibit A.