Golden State Warriors guard Stephen Curry is being sued in a class action lawsuit, along with a slew of celebrities for promoting the popular Bored Ape Yacht Club NFT in commercials and on social media.
This is the second time Curry is being sued following the fall of FTX. This lawsuit is regarding the basketball player’s promotion of the NFT series Bored Ape Yacht Club. Curry’s alleged role as an investor and promoter could play a role in determining his potential liability.
The Ape collection has 10,000 Bored Ape NFTs, with different designs, features and traits. It exists on the Ethereum blockchain.
The recent action was filed in the U.S. District Court for the Central District of California by investors who purchased or acquired the securities of Yuga Labs, which created the NFT series BAYC. The class action suit targeting Yuga and its celebrity endorsers claims that investors have been damaged by the company.
On Nov. 13 the price of the ApeCoin Token hit a low of $2.70, and has not been able to recover after allegedly dropping more than 90% in value.
The complaint alleges…
