Celebrities Named in Suit Alleging Bored Ape Yacht Club NFT 'Scheme' – Variety

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.” Reached by Variety, a Yuga Labs spokesperson said, “In our view, these claims are opportunistic and parasitic. We strongly believe that they are without merit, and look forward to proving as much.” Plaintiffs Adonis Real and Adam Titcher claim that in promoting or endorsing the Bored Ape community through social media and other mediums, these entertainers and athletes caused the value of non-fungible tokens (NFTs)
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