FTX lawsuits against Tom Brady and others are consolidated in Florida
In the aftermath of the collapse of FTX, eight lawsuits were filed against various defendants, including Tom Brady. On Monday, those eight cases were consolidated and coordinated in federal court in the Southern District of Florida.
Defendants in the FTX cases include Tom Brady and Jaguars quarterback Trevor Lawrence. The Golden State Warriors have been sued, along with NBA Hall of Famer Shaquille O’Neal.
“We are grateful to the [United States Judicial Panel on Multidistrict Litigation] for granting our Motion and consolidating all FTX cases before Judge K. Michael Moore, who will certainly continue to efficiently and effectively coordinate all of these important actions here in Miami,” attorney Adam Moskowitz said in a statement. Moskowitz has been litigating various actions against FTX in Miami, along with with co-counsel David Boies.
The company imploded last year, with civil and criminal liability for founder Samuel Bankman-Fried. For the defendants like Brady, the discovery process surely will focus on what they knew and when they knew it about the viability of the company.
Brady recently agreed to purchase a minority interest in the Raiders, subject to league approval. It arguably would be foolish for the NFL to vote on Brady’s suitability to join Club Oligarch without fully understanding the potential consequences of the FTX litigation.