- Serena Williams is named a defendant in a class-action lawsuit filed against BAYC.
- Celebrities deluded shareholders and broke both state and national laws.
- BAYC NFTs grew in value, allowing investors to buy back their lost assets.
Serena Williams was mentioned in a class-action lawsuit against the Bored Ape Yacht Club developers (BAYC). According to the complaint, certain celebrities allegedly scammed investors.
Numerous celebrities have been named in a class action lawsuit for promoting their Bored Ape Yacht Club NFT without disclosing to consumers they were being paid to do so.— Ariel Givner, Esq. (@GivnerAriel) December 9, 2022
When will they learn?
The complete list of defendants is listed below in the Complaint caption. pic.twitter.com/cL8IE9Q1YU
They violated state and federal rules by marketing non-fungible BAYC tokens at exorbitant rates while neglecting to declare their financial positions or other significant interests.
There have also been links to the case involving Justin Bieber, Madonna, Kevin Hart, Snoop Dogg, and Jimmy Fallon. Although they are not accountable for consumers’ financial losses, their involvement in the scenario and many other celebrities does not help their image.
The lawsuit said The defendants’ marketing activity was immensely successful, resulting in billions of dollars in purchases and resales. Crafted advertisements and deceptive PR were successful in massively increasing interest in the introduction of a complete BAYC ecosystem.
During the respective period, the value of the BAYC NFTs increased, enabling investors to repurchase their lost assets at exorbitant rates. Using their social media sites to promote BAYC NFTs and, through their alleged conduct, helping to raise the price of NAYC NFTs and allowing all plaintiffs adequate time to sell BAYC NFTs for massive profits at the expense of their supporters and investors.
Serena Williams’ venture capital firm, Serena Ventures, has sponsored a $12 million Series A financing round for Juno Medical, a tech-enabled healthcare platform focused on making affordable medical services available to the public.
Serena Ventures was created in 2014 by the former World No. 1, focusing on investing in enterprises run by women and people of colour. It has funded over 60 start-ups and completed a $111 million funding round in March 2022.
A one-stop solution for primary care, women’s health care, infant care, and the same-day care of adults and children, Juno Medical provides it all under one roof. The company will expand into new U.S. markets with the funds provided by Serena Ventures and Next Ventures.