Mashinsky’s Defense: Former Celsius CEO Counters FTC Lawsuit, Asserts No Legal Violations
In a memorandum submitted on September 11, 2023, Mashinsky’s legal team has challenged the Federal Trade Commission (FTC) lawsuit, arguing that it does not provide evidence of any breach of the Federal Trade Commission Act. According to his lawyers, a 2021 Supreme Court ruling prevents the FTC from seeking monetary damages under the Act.
The court filing emphasizes that Mashinsky resigned from his position as CEO of Celsius on September 27, 2023, which contradicts the claim that he is currently violating or about to violate the law. His attorneys assert that the FTC’s allegations do not demonstrate that Mashinsky knowingly made false statements to obtain customer data deceptively, failing to meet the requirements for a violation of the Gramm-Leach-Bliley Act. Additionally, they argue that the FTC has not provided sufficient grounds for monetary relief under the Act.
Request for Dismissal
Mashinsky’s legal team has requested the court to dismiss both the FTC’s claims under the Federal Trade Commission Act and the Gramm-Leach-Bliley Act. They contend that the complaint fails to establish any violation of laws or regulations by Mashinsky. When faced with the charges by the FTC, Mashinsky vehemently denied all allegations.
Hot Take: Mashinsky Fights Back Against FTC Allegations
Mashinsky and his legal team are taking a strong stance against the FTC lawsuit, challenging its claims and asserting that no legal violations have occurred. They argue that Mashinsky’s resignation from Celsius undermines any allegations of ongoing or future breaches of law. With their request for dismissal, they aim to refute the FTC’s assertions and demonstrate that no laws or regulations were broken. The outcome of this legal battle will have significant implications for Mashinsky and the FTC’s allegations against him.
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