On May 2, 2023, a Florida district court judge granted the Moskowitz Law Firm permission to tweet a legal notice to YouTuber Tom Nash, as all other attempts to contact him have been unsuccessful. The plaintiffs sent a legal notice to the YouTuber the same day through his Twitter account, @iamtomnash.
@iamtomnash, per the authorization of the Court presiding over the pending class action against you in the Southern District of Florida, you have been served: https://t.co/28YJQ2sKY5
— The Moskowitz Law Firm (@moskowitzesq) May 2, 2023
The plaintiffs’s lawyers noted that they sent emails to Nash’s personal email address, and he did not respond. They argued that the emails did not bounce back, indicating that Nash received them and the address is active and valid.
Nash is the last of ten defendants to be named in a class-action lawsuit involving influencers who allegedly endorsed the now-defunct cryptocurrency exchange FTX without disclosing full details. The lawsuit seeks $1 billion in compensation for seven plaintiffs who purchased an unregistered security from FTX in the form of a yield-bearing account (YBA).
According to court documents, all defendants except Nash were served with papers. The remaining nine defendants include seven other YouTubers, such as Ben Armstrong, Graham Stephan, and Brian Jung. The talent management company of FTX’s promotion, Creators Agency, and its founder, Erika Kullberg, were also named.
Ben Armstrong was scheduled to appear in court on April 20, 2023, concerning his alleged harassment of the plaintiff’s counsel. Armstrong failed to show up and instead posted pictures of himself on a beach in the Bahamas on Twitter to mock the injunction.
I am supposed to be in court today.
I’m not. Why?
Because I don’t give AF
RECKLESSNESS SPONSORED BY https://t.co/RtFomcGS5v pic.twitter.com/t9XqsNd6da
— Ben Armstrong (@Bitboy_Crypto) April 20, 2023
In another development, the UK’s Financial Conduct Authority (FCA) and Advertising Standards Authority (ASA) issued a joint statement issued on April 6, 2023, warning financial influencers, or “finfluencers,” against promoting shady investment schemes on social media. The statement particularly highlighted non-fungible tokens and cryptocurrencies. The regulators also released a seven-point checklist for the social media influencers to ensure their compliance with the law.
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