SNEAK PEEK
- The company behind the Bored Ape Yacht Club, is being sued on behalf of the investors for not disclosing full information regarding celebrity involvement.
- The 100-page filed suit lists about 10 charges against Yuga Labs and Hollywood rich individuals in a conspiracy in order to boost the value of Bored Ape and Mutant Ape NFT.
- Yugo Labs have violated the provisions of the Exchange Act. Yuga Labs have made misleading and false claims about the growth prospect of the company while also refurbishing the financial ownership.
Among the news of the SEC’s investigation into Yuga Labs for offering unregistered securities, a class-action suit has been filed against the firm. The company behind the Bored Ape Yacht Club, is being sued on behalf of the investors for not disclosing full information regarding celebrity involvement.
In accordance with the lawsuit, Yuga Labs has violated the provisions of the Exchange Act. Yuga Labs has made misleading and false claims about the growth prospect of the company while also refurbishing the financial ownership and benefits of the Yuga Securities investors.
The company has also been sued for using celebrity contacts to promote and lure unsuspected investors so that Yugoa insiders can sell unregistered securities that are in violation of the Securities Act.
The 100-page filed suit lists about 10 charges against Yuga Labs and Hollywood rich individuals in a conspiracy in order to boost the value of Bored Ape and Mutant Ape NFT.
Moreover, the lawsuit also specifically calls out Oseary, Madonna’s former manager and talent representative at Bored Ape, accusing him of using his contacts to promote and support the Yuga Labs products.
