Investors of collapsed crypto brokerage Voyager Digital filed a notice of appeal with the Eleventh Circuit on Tuesday, challenging a Florida federal judge's dismissal of their claims against Mark Cuban and the Dallas Mavericks. The plaintiffs asked the Eleventh Circuit to review U.S. District Judge Altman's decision to dismiss the suit on Dec. 30, 2025 after finding the investors failed to establish that their claims against Cuban had sufficient ties to Florida, where he owns residences. The lawsuit, originally filed in 2022, accused Cuban and other celebrity promoters of soliciting investments in unregistered securities on Voyager's platform before its collapse in July 2022.
Investors Challenge Florida Judge's Jurisdictional Dismissal
According to the filing, the plaintiffs asked the Eleventh Circuit to review Judge Altman's Dec. 30, 2025 dismissal. The filing also challenges Judge Altman's May 27 order denying motions to reopen the case and reconsider the dismissal, along with prior interlocutory rulings that merged into those decisions. Judge Altman dismissed the suit after finding the investors failed to establish that their claims against Cuban had sufficient ties to Florida, where he owns residences.
2022 Lawsuit Accused Cuban of Promoting Unregistered Securities
The lawsuit, filed in 2022, accused Cuban, the "Shark Tank" investor and former majority owner of the Mavericks, along with other celebrity promoters, of soliciting investments in unregistered securities on Voyager's platform before its collapse. Cuban and the Dallas Mavericks remain the sole defendants in the case.
Celebrity Defendants Reached $2.4 Million Settlement in 2024
Other named defendants, including retired NFL star Rob Gronkowski, NBA player Victor Oladipo, and NASCAR driver Landon Cassill, reached a $2.4 million settlement with the investors in 2024. This settlement left Cuban and the Mavericks as the sole remaining defendants in the case.
Voyager Filed Chapter 11 Bankruptcy in July 2022
Voyager filed for Chapter 11 bankruptcy protection in July 2022 after what it described as a short-term "run on the bank" and the default of cryptocurrency hedge fund Three Arrows Capital on a $650 million loan.
FAQ
What did Voyager investors file on Tuesday?
Voyager Digital investors filed a notice of appeal with the Eleventh Circuit on Tuesday, challenging U.S. District Judge Altman's dismissal of their lawsuit against Mark Cuban and the Dallas Mavericks.
Why did Judge Altman dismiss the lawsuit against Mark Cuban?
Judge Altman dismissed the suit on Dec. 30, 2025 after finding the investors failed to establish that their claims against Cuban had sufficient ties to Florida, where he owns residences.
When did Voyager Digital file for bankruptcy?
Voyager filed for Chapter 11 bankruptcy protection in July 2022 after a short-term "run on the bank" and the default of cryptocurrency hedge fund Three Arrows Capital on a $650 million loan.
