A US federal judge has dismissed a class action lawsuit accusing Mark Cuban and the Dallas Mavericks of defrauding crypto investors.
The case was brought by former customers of now-bankrupt crypto lender Voyager Digital.
The ruling was issued by Judge Roy K. Altman of the Southern District of Florida.
Cuban’s legal team said the plaintiffs have no option to refile the case.
On December 30, the court dismissed the matter in its entirety.
Lawyers for Cuban and the Mavericks said.
The lawsuit alleged Cuban misrepresented Voyager Digital before it filed for Chapter 11 bankruptcy protection in 2022.
Voyager held around $1.3bn in crypto assets on its platform at the time of its collapse.
Mr. Cuban and the Dallas Mavericks are extremely pleased with this ruling.
Steve Best said.
Best added that the judge ruled the plaintiffs had no legal recourse to pursue the claims further.
Voyager’s collapse followed a broader crypto market downturn.
The downturn was triggered by the failure of the Terra blockchain, which wiped out about $40bn in market value.
Terra founder Do Kwon was sentenced to 15 years in prison earlier this month.