Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of EthereumMax (“EMAX” or the “Company”) (EMAX tokens). Investors who purchased EMAX tokens are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether EMAX has violated federal securities laws by using celebrity promotors to inflate the token’s price by touting the favorable tokenomics and rate of return.
On January 11, 2022, The Street published an article entitled, “Kim Kardashian, Floyd Mayweather Named as Defendants in EthereumMax Class Action Suit.” The article stated that when Kardashian was recently “paid to ask her 250 million Instagram followers to speculate on crypto tokens by ’joining the Ethereum Max Community, it may have been the financial promotion with the single biggest audience reach in history,” Charles Randell, chair of the FCA and PSR said to the Cambridge International Symposium of Economic Crime last year.”
That same day, The Hollywood Reporter published an article entitled, “Kim Kardashian, Floyd Mayweather Sued by Cryptocurrency Investors.” The article stated, “A survey by financial services company Morning Consult found that up to 21 percent of all American adults and nearly half of all cryptocurrency owners had seen the ad and that 19 percent of respondents invested in EthereumMax as a result.”
The investigation concerns whether, following celebrities’ promotional efforts, EMAX leaders and promotors “pulled the rug” on investors, effectively leaving them with tokens that had lost over 75% from their materially inflated price high in May 2021.
If you are aware of any facts relating to this investigation or if you suffered losses associated with purchasing EMAX tokens between May 2021 and August 2021, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.