Investor Files Response Opposing Logan Paul’s Request for Default Judgments in CryptoZoo Lawsuit
On Friday, July 12, 2024, Don Holland filed a response opposing YouTuber Logan Paul’s request for default judgments against two of his former business partners in the CryptoZoo NFT project lawsuit.
Holland, the lead plaintiff representing investors who lost money in CryptoZoo, stated that granting default judgments now could result in contradictory rulings later. He is seeking to hold Paul and all the business partners jointly responsible for defrauding investors.
The lawsuit claims that in 2022, Paul promoted the sale of Zoo tokens and NFTs required to play his upcoming blockchain game CryptoZoo. However, the game was never completed, and the assets became worthless. Paul blamed the failure on co-founders Eduardo Ibanez and Jake Greenbaum, accusing them of lying about development progress and misusing funds.
In his recent filing, Holland argued that Paul knew about the misrepresentations made by Ibanez and Greenbaum yet continued working with them. He also noted that crucial issues around each defendant’s liability are still unresolved. Granting default judgments before assessing all the evidence could potentially be overturned later, according to Holland.
Additionally, defaulting Ibanez and Greenbaum now may result in duplicative discovery efforts compared to the ongoing litigation against all parties. Holland believes the truth about each person’s role will only come out after examining them together during the legal process.
For these reasons, the plaintiff stated the judge should delay any default ruling until fully considering the main lawsuit’s merits and each defendant’s culpability. This would help avoid inconsistencies and the potential need for additional court proceedings down the line.
The CryptoZoo NFT project was announced in late 2021. It failed to launch after several delays and excuses from Paul and the team. Investors who supported it by purchasing required assets have seen their investments become worthless.
Holland filed the initial class action suit in February 2023 against Paul, Ibanez, Greenbaum, and other co-founders on behalf of defrauded investors. The case is ongoing in federal court in Texas as Paul disputes connections to the state.
Please contact BlockTribune for access to a copy of this filing.
