Plaintiffs file for Dave Portnoy’s dismissal from SafeMoon lawsuit

Barstool Sports founder Dave Portnoy highlighted that he told people that the project may be a scam before he made his investment.

SafeMoon investors are letting Barstool Sports founder Dave Portnoy off the hook as the plaintiffs filed for his dismissal from the lawsuit against him for allegedly promoting the SafeMoon token. 

On Aug. 8, the internet celebrity tweeted that he is being sued by investors for “shilling SafeMoon.” Portnoy claimed that he never received any compensation from the project and mentioned that he also lost a lot of money after investing in the token. He also highlighted that he told people that the project may be a scam before he made his investment and asked his audience if he should sue the plaintiffs for wasting his time. 

A month later, a court filing retrieved by the legal information website Justia showed the people who initiated the lawsuit against Portnoy filed a notice of dismissal. This follows an earlier filing from Portnoy’s side declaring that he has no connection with the SafeMoon project. 

Apart from SafeMoon investors, the celebrity also shared an email last month showing that he’s facing pressure from SafeMoon for alleged “unfair representations” and giving the company “a bad look” when he mentioned his token losses on his show. The complaint also showed that the project had asked the celebrity to update his holdings to version 2.

Related: New crypto litigation tracker highlights 300 cases from SafeMoon to Pepe the Frog

In 2020, Portnoy made the headlines for exiting Bitcoin (BTC) after facing a $25,000 loss. A month later, the trader noted that he was coming back to BTC and claimed that his “heart is crypto,” noting that the crypto community is an enjoyable group of people. 

Meanwhile, a SafeMoon lawsuit back in February targeted many celebrities and influencers for an alleged connection to a pump-and-dump scheme related to SafeMoon. The scheme included YouTubers Jake Paul and Ben Philips and musicians Nick Carter, Soulja Boy and Lil Yachty.

Related Posts

Bitcoin price slips under $19K as official data confirms US recession

Politicians continue to argue about whether the U.S. economy is in recession, even as data highlights two consecutive quarters of negative growth. Meanwhile, BTC holds $19,000, for…

This altcoin exploded 120%, will it continue to rise in October? Analysts take

Terra Classic’s (LUNC) over 100 percent rally in September has forced analysts to look into how October could be for the cryptocurrency. The recent 1.2 percent burn…

Shiba Inu biggest position for Ethereum whales holding more than $139M – Will SHIB price explode?

Ethereum Whales double down on Shiba Inu buying despite the crypto winter encouraged by discounted prices and the Impressive growth of the Shiba Inu ecosystem driving up…

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange…

Biggest Movers: SOL Moves Towards $35.00, XMR Extends Recent Gains

Solana rose for a second straight day on Thursday, as the token moved closer to its long-term resistance point of $35.00. Monero was also in the green…

Bitcoin Mining Industry Reveals Mergers, Hashrate Increases, and New Facilities Amid Market Downturn

While bitcoin is down more than 72% from the crypto asset’s all-time high, bitcoin mining operations are expanding at a rapid pace during the downturn. On Tuesday,…

Generated by Feedzy