Kim Kardashian’s lawyers have filed a joint lawsuit to dismiss a class action lawsuit against a celebrity for promoting the altcoin EthereumMax (EMAX). Reported by Cointelegraph.

The defense insists on an unproven fact that it was Kardashian’s Instagram advertising stories that inspired investors to invest in the token.

“None of the plaintiffs cited claim to have actually viewed any Instagram posts prior to purchasing the tokens,” the petition states.

Lawyers say the plaintiffs failed to provide evidence of celebrities getting paid in Ethereum to promote EMAX on their social media.

Recall that the altcoin EthereumMax became widely known in late spring 2021. On May 26, former NBA star Paul Pierce posted an ad on his Twitter – within a few days the price of EMAX peaked and then fell more than 80% in 11 days.

In mid-June, EMAX rose again to coincide with the release of Kim Kardashian’s Instagram Stories. After that, the coin fell rapidly and has lost more than 97% of its value since reaching its peak.

In January 2022, the California Central District Court filed suit against the Kardashians, boxer Floyd Mayweather, and eight others. Investors accused them of colluding with project leaders Steve Gentile and Giovanni Perone to mislead them about control of most of the tokens.

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