Major League Baseball and the Mercedes-AMG Petronas Formula One Team join dozens of others named in lawsuits for promoting the failed cryptocurrency exchange FTX.
Three new suits filed on Monday by investors named the sports promoters, as well as Wasserman Media Group and Dentsu McGarry Bowen, who provided advertising for FTX. Adam Moskowitz, the lawyer who filed the suits, said he sued “deep pockets.” That’s in part, he said, because FTX, now in bankruptcy, is now estimated to have caused $11 billion in damages.
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