Mark Cuban to face questioning under oath over promotion of Voyager

Dallas Mavericks owner Mark Cuban is set to be deposed next month as part of a defense versus a proposed class-action claim alleging that he promoted a Ponzi plan” in the form of now-bankrupted crypto lending institution Voyager Digital.

A deposition in legal terms typically includes responding to a line of questioning under oath during the pre-trial discovery stage of a prospective court case.

In a Jan. 9 court order, U.S. Magistrate Judge Lisette M. Reid denied Cuban’s demand to divide the deposition into 2 sessions and bought that his full deposition would be handled Feb. 2 in Dallas, Texas.As part of

the defense, two Dallas Mavericks staff members will also be deposed before Feb. 23.

Additionally, the judge stated that 3 plaintiffs behind the fit– Pierce Robertson, Rachel Gold and Sanford Gold– will be deposed before completion of this month.

In a rather spirited declaration to legal news publication Law360 on Jan. 9, the plaintiffs’ counsel expressed their enthusiasm over the judge “denying Mark Cuban’s attempts to stay and postpone discovery.”

“We have been prosecuting on behalf of hundreds of hurt Voyager financiers for more than a year and will lastly have the ability to uncover proof of what taken place, and fully understand to what level Mr. Cuban, and his Dallas Mavericks, were associated with the ‘offering’ of these unregistered securities and to what degree he was to profit,” they said.

Cast your vote now!Cuban’s counsel likewise spoke with Law360 and kept in mind that the deposition of the plaintiffs will cover “problems of standing, declared incorrect statements consisted of in the grievance and concerns about the Voyager accounts held by the complainants.”

Related: Voyager tells court Binance acquisition plan is ‘sound service judgment,’ urgently required

The lawsuit in concern was initially filed on Aug. 10. The plaintiffs allege that Cuban misrepresented Voyager on many celebrations before it declared bankruptcy, making dubious claims of it being less expensive than competitors and offering “commission-free” trading services.

The match likewise alleges that the company provided unregistered securities which Cuban and Voyager CEO Stephen Ehrlich utilized their sophisticated experience to rope ignorant financiers to put their life cost savings into what they now believe to be a “Ponzi plan.”

Voyager applied for Chapter 11 insolvencyon July 6 after facing liquidity problems as a result of crypto winter and a large loan to Three Arrows Capital that was defaulted on. The company emphasized that the move belonged to a “Plan of Reorganization.”