A Florida judge has approved a legal settlement of $2.4M for Robert Gronkowski, Victor Oladipo, and Landon Cassill in response to promoting Voyager Digital.
Judge Roy Altman granted preliminary approval of a class action settlement for NFL star Robert Gronkowski, NBA player Victor Oladipo, and NASCAR driver Landon Cassill in a filing in the United States District Court for the Southern District of Florida on June 10.
In May, the attorneys for the three sports personalities announced that they had reached a mutual agreement to pay approximately $2.4 million to resolve the case. Gronkowski, in particular, will be responsible for paying $1.9 million.
Initially filed in 2022, the class-action lawsuit against former Dallas Mavericks owner Mark Cuban alleged that the billionaire misrepresented Voyager’s services, resulting in the loss of money for inexperienced investors when the firm filed for bankruptcy.
The proposed settlement would resolve matters for Gronkowski, Oladipo, and Cassill if the court grants final approval, but it would not resolve matters for Cuban or the Mavericks.
The civil lawsuit is ancillary to other legal proceedings in which Voyager debtors have been involved since 2022. The company had been in bankruptcy court and had addressed claims regarding funds at Three Arrows Capital and the defunct crypto exchange FTX.
A motion was approved by a judge in April, under which FTX would “relinquish all rights” to approximately $450 million in funds that will be used to compensate Voyager creditors.
In 2023, a federal magistrate confirmed an order that mandated Voyager and its affiliates to provide the U.S. Federal Trade Commission with over $1.6 billion in monetary relief.
Stephen Ehrlich, the former CEO of Voyager, has been the subject of parallel litigation from the U.S. Commodity Futures Trading Commission and the Federal Trade Commission for making fraudulent statements regarding the company’s services. At the time of publication, the cases were still in progress.
