Investors accuse Yuga Labs and MoonPay of false advertising
Law firm Scott + Scott filed a class action lawsuit against nearly 40 people and companies, including Yuga Labs and MoonPay, for promoting misleading ads.
Lawyers for Scott + Scott said that Yuga Labs and Hollywood talent agent Guy Oseary have developed a joint plan to use their "extensive network of high-profile musicians, athletes, and celebrity clients and partners" for the questionable practice of social media promotion of financial Yuga products.
In total, 37 defendants appear in the lawsuit, including the founders and management of Yuga Labs, MoonPay and its CEO Ivan Soto-Wright; Reddit co-founder and investor Alexis Ohanian, Ape DAO board member Amy Wu, Guy Oseary, Madonna, Paris Hilton, Snoop Dogg and others.
