Cryptocurrency News

Yuga Labs ‘inappropriately induced’ BAYC investors: Class action

07/26/2022

Less than a minute

2022.07.26 16:05

Yuga Labs ‘inappropriately induced’ BAYC investors: Class action

A proposed class-action lawsuit alleges that Yuga Labs “inappropriately induced” the community to buy Bored Ape Yacht Club nonfungible tokens (NFTs) and the project’s affiliated ApeCoin (APE) token.

The proposed class-action driven by law firm Scott+Scott was published on Thursday, claiming that Yuga Labs used celebrity promoters and endorsements to “inflate the price” of the BAYC NFTs and the APE token.

07/26/2022

Less than a minute

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