In Crypto Case Against NBA Citation to FTX and Shaq Now Discovery Stayed Motion Coming

In Crypto Case Against NBA Citation to FTX and Shaq Now Discovery Stayed Motion Coming by Matthew Russell Lee, Patreon Book Substack SDNY COURTHOUSE, Oct 5 – In a proposed class action over the collapse of crypto exchanges that sponsored professional sports, here the National Basketball Association, Inner City Press live tweeted a proceeding on October 5 before U.S. District Court for the Southern District of New York Judge Gregory H. Woods, here and below.  The plaintiffs, including Dominik Karnas, Edwin Garrison, Rahil Sayed, William Ayer, Anthony Dorn and Todd Webb, sued the NBA and the law firm McCarter & English. They also sued the PR firm Ketchum Inc. and several celebrity promoters: Matthew Barkley, Marshall Faulk, Scott Melker, Tracy McGrady and Stephen Piscotty. Their original Florida complaint alleges the NBA approved and encouraged crypto sponsorship deals, including the Miami Heat arena's naming deal with FTX, which let exchanges later hit by bankruptcy market themselves to the public. It alleges the NBA bears responsibility to the proposed class for about $4.2 billion in damages.  On October 5: Plaintiffs' lawyer: the NFL decided not to do crypto, but Adam Silver did. We settled a case against Shaquille O'Neal... They want us to not amend, to dismiss it without prejudice. But I don't think they will consist these were unregistered securities. We are ready to brief it.  Plaintiffs' lawyer: I am Joey Kaye... This was during out FTX case. The 11th Circuit cited mass marketing on the Internet..  NBA's lawyer Alex Drylewski of Skadden: In the FTX case, they sued influencers and promoters, Judge Moore found agreements with FTX. Here, no Voyager deal with NBA  Judge: I'll give you four weeks, given the Thanksgiving holiday. Motion due by Nov 2, any opposition four weeks later, reply two weeks later. NBA's lawyer from Skadden: We want to stay discovery.   Plaintiffs' lawyer: The Voyager customers have lost $2 billion, more than a billion has yet be be paid. So I'm sure the NBA has indexed documents. Producing them would not be burden Judge: I will stay discovery. I look forward to reviewing the motion [to dismiss] I Adjourned  The case is Karnas et al. v. National Basketball Association, Inc., et al., 1:26-cv-06612 (Woods) *** Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron. Feedback: Editorial [at] innercitypress.com Mail: Box 130222, Chinatown Station, NY NY 10013 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2026 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com