Celsius Network CEO Mashinsky Attempts To Dismiss FTC Lawsuit
Mashinsky’s Recent Memorandum In the Monday filing, the former Celsius Network’s lawyers said that FTC’s claims against him should be dismissed. The FTC’s claims under the Federal Trade Commission Act (FTCA) and the Gramm-Leach-Biley Act (GLBA) should be dismissed as they do not allege specific violations of the rules and laws associated with these acts, the filing showed. advertisement Additionally, the lawyers argued that the FTC cannot seek monetary damages from the defendant under the FTCA, citing a recent court decision of AMG Capital Mgmt., LLC V. FTC. Meanwhile, Mashinsky’s lawyers also stated in the filing that, as mandated by the 1999 GLBA Act, the accusations fail to establish that the defendant knowingly made false statements with the intent to fraudulently acquire customer information from a financial institution. In Mashinsky’s case, the complaint fails to provide credible evidence supporting the claim that Mashinsky is pr...