Mark Cuban Is Scheduled To Be Deposed On Feb 2 For Promoting Voyager

Key Points:

• Next month’s deposition of Dallas Mavericks owner Mark Cuban is scheduled as part of his defense against a planned class-action lawsuit that would claim that Cuban sponsored a Ponzi scheme through the now-defunct cryptocurrency lender Voyager Digital.
• Two Dallas Mavericks staffers, Ryan Mackey and Kyle Tappey will also give depositions before February 23 as part of the defense.
• The contested lawsuit was first submitted on August 10. The claimants assert that before Voyager filed for bankruptcy, Cuban repeatedly misrepresented the company.

In order to defend against a potential class-action lawsuit surrounding his alleged marketing of now-defunct crypto lender Voyager Digital, Dallas Mavericks owner Mark Cuban will give a deposition in February.

Cuban asked U.S. Magistrate Judge Lisette M. Reid to divide the deposition into two sessions, but she refused. Instead, it was decided that his complete, under-oath interrogation would take place on February 2 and would not be restricted to matters of jurisdiction.

In a legal sense, a deposition typically entails responding to questions while under oath during the pre-trial discovery phase of a potential court case.

Two Dallas Mavericks staffers, Ryan Mackey and Kyle Tappey, will also be questioned before February 23 as part of the defense.

The judge also announced that three of the lawsuit’s plaintiffs, Pierce Robertson, Rachel Gold, and Sanford Gold, will give depositions by the end of this month.

The contested lawsuit was first submitted on August 10. Before Voyager filed for bankruptcy, the plaintiffs claimed that Cuban repeatedly misrepresented the company, making unsubstantiated claims that it was less expensive than rivals and provided “commission-free” trading services. Additionally, they asserted that the crypto lender operated an unregulated securities market and was a “Ponzi scheme.”

Along with offering unregistered securities, the lawsuit claims that Cuban and Voyager CEO Stephen Ehrlich used their extensive industry knowledge to convince ignorant investors to spend their whole life savings in Voyager.

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