A new lawsuit claims that Yuga Labs and Guy Oseary were involved in a 'scheme' and used MoonPay as a 'front operation' to promote and sell digital assets using celebrity endorsements. Yuga Labs called the allegations 'opportunistic and parasitic.'
The suit also alleges that Yuga Labs and Web3 investor Guy Oseary were involved in a"vast scheme" and used crypto payments platform MoonPay as a"front operation" to promote and sell digital assets."The executives at Yuga and Oseary together devised a plan to leverage their vast network of A-list musicians, athletes, and celebrity clients and associates to misleadingly promote and sell the Yuga Financial Products," the lawsuit reads.
The lawsuit alleges that BAYC and related NFTs"rely heavily on the perception that 'joining the club' ... brings investors status and provides them access to events, benefits, and other lucrative investment opportunities exclusive to BAYC holders." "Sales of digital assets like NFTs and tokens come with disclosure duties just like any other financial product," Jasnoch told CoinDesk."And whether it is a company, [decentralized autonomous organization] or celebrity influencer, the individuals involved in misleading investors should be held accountable."
A spokesperson for Yuga Labs called the claims"opportunistic and parasitic. We strongly believe that they are without merit and look forward to proving as much."
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