Friday, May 24, 2024

Yuga Labs ‘inappropriately induced’ BAYC investors: Class action By Cointelegraph

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Yuga Labs ‘inappropriately induced’ BAYC traders: Class action

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

The proposed class-action pushed by regulation agency Scott+Scott was revealed on Thursday, claiming that Yuga Labs used superstar promoters and endorsements to “inflate the worth” of the BAYC NFTs and the APE token.

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