Tom Brady Pushed Crypto to His Fans. This Lawyer Wants Him to Pay Up.
Advertising Partner Jeffrey A. Greenbaum is quoted in the article, “Tom Brady pushed crypto to his fans. This lawyer wants him to pay up.” published by The Washington Post. The article discusses the collapse of the cryptocurrency trading platform FTX and a proposed class-action lawsuit seeking to hold Tom Brady, his ex-wife Gisele Bündchen, and other celebrity endorsers of FTX responsible for luring investors into a bad deal. Jeff is quoted saying, “Celebrity endorsers can be held liable in false-advertising claims, but the Federal Trade Commission has typically been the main enforcer. It’s far less common for a private plaintiff to bring legal action against an endorser. Courts have generally been hesitant to hold spokespeople responsible when investments go bad.”
In regards to the FTX case, Jeff says, “What we’re all going to be watching really closely is: What standards are the courts going to apply? In other words, what level of involvement does the celebrity need to have? What level of knowledge does the celebrity need to have to be found responsible.”
Read the full article here.