Legal Team pursues Ronaldo via Alternative Routes in Binance Endorsement Lawsuit
Summary:
The legal representatives of the aggrieved Binance users, in a proposed class-action lawsuit against football star Cristiano Ronaldo for his endorsement of Binance, are seeking to serve the footballer using alternative platforms like X (formerly Twitter) due to traditional communication disappointments. The filed motion highlights a proposal that includes means such as email, Twitter, and website publication. The contentious point arises from Ronaldo’s 2022 partnership with Binance, where he announced a series of his non-fungible tokens (NFTs), leading to users allegedly suffering losses.
The ongoing proposed class-action lawsuit against Cristiano Ronaldo, concerning his endorsement of Binance, is progressing with the legal team of the affected Binance users seeking to reach out to the elusive football icon through alternative platforms, such as ex-Twitter now called X. The plea put forward on January 16, 2024, advocates for unconventional ways of service due to the challenges they have encountered with traditional routes of communication. The proposal suggests using Twitter, emails, or publicizing it on websites, stating that these ways conform to international treaties and effectively notifies the accused, Cristiano Ronaldo.
The plea underlines the ambiguity concerning Ronaldo's exact whereabouts in Saudi Arabia and affirms that the Hague Convention does not strictly forbid these modes of communication, particularly when the individual’s location remains uncertain. The plea reveals that the suers have developed a specialized website to house the case documents, which will be dispatched to both Ronaldo’s verified Twitter handles and the email accounts of his American legal representatives involved in parallel federal cases in the U.S.
The suit is rooted in allegations that losses were incurred by Binance clients due to Ronaldo’s promotion campaigns for the crypto platform. A legal document filed on November 27, in a district court in Florida, USA, alleged that Ronaldo was instrumental in "the offering and sales of unregistered securities in synchronization with Binance".
In its basis, the lawsuit draws attention to a caution notice forwarded by the U.S. Securities and Exchange Commission (SEC), admonishing celebrities to declare any payments received for cryptocurrency promotions, a protocol allegedly neglected by Ronaldo. The contention surfaces in the wake of a partnership forged by Binance with Ronaldo in mid-2022, where Ronaldo announced his non-fungible tokens (NFTs) launch, three of them associated with Binance.
Published At
1/18/2024 11:16:43 AM
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