Former Celsius Boss Alex Mashinsky Seeks Dismissal of FTC Lawsuit

Alex Mashinsky, the previous CEO of Celsius Network, has filed a movement to dismiss the Federal Trade Commission (FTC) lawsuit towards him. In the movement, Mashinsky argues the FTC has did not allege he violated any legal guidelines or guidelines. His attorneys say the FTC shouldn’t be entitled to financial aid and can’t substantiate Mashinsky is presently violating the legislation.

Mashinsky Fights Back: Former Celsius CEO Challenges FTC Lawsuit, Claims No Legal Violations

In a memorandum filed September 11, 2023, Mashinsky’s authorized crew asserts the FTC grievance doesn’t present he breached the Federal Trade Commission Act. His attorneys declare the FTC can’t search financial damages underneath the Act per a 2021 Supreme Court ruling.

“The complaint cannot substantiate a claim that Mashinsky ‘is violating’ or is ‘about to violate’ the law because Mashinsky resigned from his position as CEO of Celsius [on] September 27, 2023,” the courtroom submitting reads.

The memorandum states the FTC’s allegations fail to assist that Mashinsky knowingly made false statements to deceptively get hold of buyer knowledge. This purportedly doesn’t meet the necessities to allege a violation of the Gramm-Leach-Bliley Act. Mashinsky’s attorneys additionally contend the FTC has not demonstrated grounds for financial aid underneath the Act.

In their submitting, Mashinsky’s attorneys ask the courtroom to dismiss the FTC’s Federal Trade Commission Act and Gramm-Leach-Bliley Act claims towards him. They argue the grievance doesn’t set up that Mashinsky broke any legal guidelines or laws. When he was formally charged by the FTC, Mashinsky “vehemently” denied the allegations.

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