Billionaire entrepreneur and former principal owner of the Dallas Mavericks, Mark Cuban, could face fresh trouble as Voyager Digital investors urged the court to review the dismissal of a cas
Billionaire entrepreneur and former principal owner of the Dallas Mavericks, Mark Cuban, could face fresh trouble as Voyager Digital investors urged the court to review the dismissal of a case against the businessman and his NBA team.
Founded in 2021, Voyager Digital was a cryptocurrency brokerage firm. In 2022, it suffered heavy losses after lending hundreds of millions of dollars to crypto hedge fund Three Arrows Capital, which collapsed. Voyager itself filed for bankruptcy in July 2022.
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In August 2022, Voyager Digital investors filed a class-action lawsuit against Cuban and his NBA team for allegedly engaging in “false representations and other deceptive conduct” tied to a 2021 marketing deal with the crypto firm.
The five-year partnership aimed to promote the firm through the NBA team's fan base, which plaintiffs claimed misled investors about the risks of crypto products.
Voyager offered unregistered securities, and celebrity endorsements encouraged investors to participate, the lawsuit alleged.
But Judge Roy Altman at the U.S. District Court for the Southern District of Florida granted a motion to dismiss the complaint in December 2025, saying the plaintiffs had failed to establish sufficient ties between the defendants and Florida.
Last month, Judge Altman also denied requests to reopen the case and reconsider the dismissal.
On June 23, Voyager investors appealed the ruling dismissing the lawsuit, challenged last month's order, and sought review of earlier interlocutory rulings.
In the original lawsuit, the investors highlighted that Cuban had admitted to being a Voyager customer, and a Mavericks promotion offered $100 in Bitcoin to customers who downloaded the Voyager app, opened an account, deposited $100, and completed a trade.
But the defence team argued that neither Cuban nor Mavericks specifically targeted Florida investors in their campaigns, and the billionaire investor had urged caution to crypto investors.
The court order in December last year ruled that the plaintiffs failed to establish that the defendants purposefully targeted Florida residents.
Other defendants originally mentioned in the class-action lawsuit, such as retired NFL player Rob Gronkowski, NBA player Victor Oladipo, and NASCAR driver Landon Cassill, agreed to settle the case for $2.4 million in 2024.
Cuban and the Mavericks are the only remaining defendants in the suit.
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