Overview
- U.S. District Judge Roy K. Altman dismissed the 2022 class action in the Southern District of Florida after finding the plaintiffs failed to establish personal jurisdiction.
- The dismissal was without prejudice, allowing investors to refile their claims in another jurisdiction.
- The court said nationwide marketing and press events, including a $100-in-Bitcoin Mavericks offer and Cuban’s 2021 remarks, did not show purposeful targeting of Florida residents.
- Cuban’s counsel welcomed the ruling and said they expect a new filing elsewhere, while plaintiffs’ attorneys did not immediately comment.
- The case stems from Voyager’s 2022 bankruptcy and follows other Voyager-related suits, some of which saw athlete defendants settle, as Cuban now holds a minority stake after selling control of the Mavericks in 2023.