A U.S. judge has tossed out a class-action lawsuit against Mark Cuban and the Dallas Mavericks, saying the case doesn’t belong in Florida.
The lawsuit came from investors who claimed Cuban and the Mavericks promoted Voyager Digital, a crypto platform that later collapsed in 2022. But the judge didn’t rule on whether the promotions were right or wrong. Instead, the decision came down to jurisdiction—basically, whether a Florida court had the legal power to hear the case.
The judge said it didn’t.
According to the ruling, national marketing, online promotions, press events, and app ads don’t automatically mean the defendants were targeting people in Florida. Since the plaintiffs couldn’t show a strong legal connection between Florida and the promotions, the case couldn’t move forward there.
That said, the case wasn’t dismissed forever. It was thrown out without prejudice, meaning the plaintiffs are free to refile the lawsuit in another state.
The lawsuit pointed to comments Cuban made at a Mavericks news conference in October 2021, where he said he had personally invested in Voyager. It also mentioned a Mavericks promotion that offered $100 in Bitcoin to fans who signed up for the Voyager app and completed a trade.
Cuban’s legal team pushed back, saying neither Cuban nor the Mavericks aimed their promotions at Florida residents. They also noted that Cuban has often warned people to be careful with crypto and not invest money they can’t afford to lose.
The law firm representing Cuban and the Mavericks said the ruling confirms that broad, nationwide marketing alone isn’t enough to drag someone into court in any state an investor happens to live in.
Voyager filed for Chapter 11 bankruptcy in July 2022 after heavy market losses. At its peak, the company reportedly managed over $5 billion in assets and served millions of customers, before its sudden collapse sparked waves of lawsuits against executives, partners, and celebrity promoters.
While Cuban sold his majority stake in the Mavericks in late 2023, he still holds a minority interest and remains involved with the team’s basketball operations.
For now, this case is over in Florida—but the legal fallout from Voyager’s collapse is far from finished.
