Investors who lost money in the EthereumMax (EMAX) token are gaining ground in their legal battle against high-profile celebrities who endorsed the cryptocurrency. A recent decision by a California judge has cleared the path for class-action lawsuits in four U.S. states to move forward.
Judge Clears the Way for State-Level Lawsuits Against EMAX Promoters
On August 7, 2025, U.S. District Judge Michael Fitzgerald ruled that investors from New York, California, Florida, and New Jersey could proceed with their lawsuits against the promoters of EMAX, including Kim Kardashian, Floyd Mayweather, and Paul Pierce.
The judge allowed these state-level cases to move forward, noting they met federal procedural standards. However, he denied a proposed nationwide class action, expressing concern over the complexity of applying California and Florida laws to investors across all 50 states.
This decision is significant because it brings the legal spotlight back on celebrities who used their massive social media reach to promote EMAX in 2021 — a token many now claim was part of a pump-and-dump scheme.
Kim Kardashian’s Promotion Reached 200 Million Followers
Kim Kardashian was one of the most prominent celebrity endorsers of EMAX. In a 2021 Instagram post, she promoted the token to her then 200 million followers. Floyd Mayweather and Paul Pierce also used their platforms to boost interest in EthereumMax around the same time.
The lawsuits allege that these promotions misled retail investors, many of whom bought into the hype between May and June 2021, only to suffer significant financial losses when the token’s value plummeted shortly afterward.
Although Judge Fitzgerald initially dismissed the case in December 2022, he allowed plaintiffs to revise and refile their complaint. The investors did so approximately seven months later, leading to the current stage of the legal battle.
What Happens Next?
Now that the judge has approved state-level actions, legal proceedings will continue in each of the four approved states. While this narrows the scope of the lawsuit, it strengthens the possibility of holding individual promoters and EMAX’s creators accountable under local consumer protection laws.
As crypto-related lawsuits gain momentum in courts across the U.S., this case could serve as a key precedent — especially regarding how celebrities and influencers are held responsible for the financial products they endorse.
