> Swift avoided getting dragged in FTX’s collapse because the singer did her due diligence, and asked one important question: “Can you tell me that these are not unregistered securities?”, according to South Florida attorney Adam Moskowitz. Moskowitz, one of the lawyers representing the plaintiffs in the class action lawsuit
I do not for a second believe that Taylor Swift herself asked this literal question. It is a summarization of the due diligence her team performed, as paraphrased by the attorney charging everyone else.
Take it with a grain of salt - this whole guy's legal case rides on the implication that all of the defendants knowingly had a duty to perform due diligence. And so proving that some celebrities like Taylor Swift backed out - not because of money or scheduling but because they understood that they were trading securities illegally - is important to his case.
Personally, I come down on the side of the defendants on this one. When Larry David was hired to do a superbowl commercial for FTX, how much was he really expected understand about securities law? Could we really argue he was in on the fraud? If he did a superbowl commercial for Chipotle we wouldn't expect him to perform his own health inspections.
I do not for a second believe that Taylor Swift herself asked this literal question. It is a summarization of the due diligence her team performed, as paraphrased by the attorney charging everyone else.
Take it with a grain of salt - this whole guy's legal case rides on the implication that all of the defendants knowingly had a duty to perform due diligence. And so proving that some celebrities like Taylor Swift backed out - not because of money or scheduling but because they understood that they were trading securities illegally - is important to his case.
Personally, I come down on the side of the defendants on this one. When Larry David was hired to do a superbowl commercial for FTX, how much was he really expected understand about securities law? Could we really argue he was in on the fraud? If he did a superbowl commercial for Chipotle we wouldn't expect him to perform his own health inspections.