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Yuga Lab When monthly payment Facing class action lawsuit filed December 8th2022. suit It opposes Yuga Labs, the creators of Bored Apes Yacht Club (BAYC), and Moonpay, a crypto financial technology company.
The class action lawsuit against Yuga Labs and Moonpay names more than 40 individuals and companies as defendants. Within that page, Yuga and Moonpay allege that they illegally used a network of celebrities and Hollywood influencers to promote their digital assets without full disclosure. Scott & Scott Attorneys Representing Plaintiffs Adonis Real and Adam Titcher filed in the United States District Court for the Central District of California.
Celebrities named in the lawsuit include Paris Hilton, Snoop Dogg, Jimmy Fallon, Justin Bieber, Madonna, Gwyneth Paltrow, Serena Williams, Diplo and Post Malone. In essence, the lawsuit is an attempt by the entities involved to use misleading affiliations with Hollywood individuals and companies as bait for potential investors to support the project and facilitate the sale of digital assets. claimed to have done so. Further, news about the case alleges that the defendants are in violation due to insufficient disclosure of their ties to Yuga Labs and Moonpay.
Unfortunately, this isn’t the first time the lawsuit against Yuga Labs has gained attention and notoriety. In July (2022), the company underwent his SEC (U.S. Securities and Exchange Commission) investigation. This class action lawsuit filed on December 8thfirst proposed during a survey in July 2022.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Writer and author who likes to simplify the topic of blockchain technology.
