A class-action lawsuit contends that stakeholders in Yuga Labs, the parent company of NFT series Bored Ape Yacht Club and its affiliated digital pro

Kevin Hart, Jimmy Fallon, Madonna Named in Class-Action Suit Alleging Bored Ape Yacht Club NFT Fraud ‘Scheme’

submited by

Style Pass

2023-03-26 17:00:04

A class-action lawsuit contends that stakeholders in Yuga Labs, the parent company of NFT series Bored Ape Yacht Club and its affiliated digital products, engaged in a conspiracy with celebrities to defraud potential investors.

In the complaint, filed Dec. 8 in federal district court in L.A., Yuga partners — including veteran music manager Guy Oseary — are named among the 37 defendants, who include Kevin Hart, Gwyneth Paltrow, Madonna, Justin Bieber, Serena Williams, Jimmy Fallon, Paris Hilton, Snoop Dogg, The Weeknd, Post Malone and NBA star Steph Curry. Also named is Amy Wu, who recently exited troubled cyptocurrency exchange FTX and served as a consultant and board member of the ApeDAO.

The lawsuit seeks monetary damages of at least $5 million on behalf of the plaintiffs and the putative class of “all others similarly situated.”