Fraud is not protected by the First Amendment [1]. This is old law.
Mercedes' Formula 1 car had like 6 FTX ads on it this season. Why isn't Mercedes or Lewis Hamilton in this class action?
I'm not sure it's a good idea, but it's an interesting idea. And the follow on effects of making endorsements things that people actually believe in would be a nice world.
I assume Mercedes/Lewis Hamilton weren't included because the lawyers went by whoever did it on the superbowl. Cause it was an easy list to find. And a lot of Americans don't know anything about F1 so it's under the radar.
Fraud was used by me as an example of the 1st amendment being okay with certain commercial speech being actionable.