SAN FRANCISCO, CA / BUSINESSWIRE / December 21, 2022 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP recommends that Yuga Labs, Inc. (“Yuga” or the “Company”) investors who suffered losses from purchasing Bored Ape Yacht Club NFTs, ApeCoins, and virtual land in the Otherside metaverse between April 23, 2021 and December 8, 2022 contact our attorneys immediately regarding pending securities fraud class action against Yuga and a host of company insiders and paid promoters. The last day to apply to be a lead plaintiff is February 7, 2023.
Class Period: April 23, 2021 – December 8, 2022
Lead Plaintiff Motion Deadline: February 7, 2023
Case information: lieffcabraser.com/securities/yuga-labs/
Contact us: Email or text firstname.lastname@example.org or call 1-800-541-7358
Yuga, incorporated in Delaware and headquartered in Tysons, Virginia, sells NFTs and ApeCoin tokens, as well as virtual “land” in the Otherside metaverse. One of its NFT brands, the Bored Ape Yacht Club, was widely promoted by compensated celebrity endorsers, including Jimmy Fallon, Snoop Dogg and Madonna. The action alleges that Yuga made false and/or misleading statements about how it compensated these celebrity endorsers for promoting Yuga securities, including Bored Ape Yacht Club NFTs, to the public. The action claims that these endorsements artificially inflated the price of Yuga securities by, among other things, falsely portraying their popularity as organically rather than artificially derived.
The securities class action states claims against Yuga, along with numerous of its paid endorsers and company insiders, for violating (1) federal securities laws (including Sections 10(b) and 20(a) of the Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and Sections 5, 12(a)(1), and 15 of the Securities Act of 1933); (2) the California Unfair Competition Law Cal. Bus. & Prof. Code §17200; (3) the California Consumer Legal Remedies Act Cal. Civil Code §1770; (4) Aiding and Abetting under the California Common Law; and (5) Civil Conspiracy under the California Common Law.
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Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $127 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
SOURCE: Lieff Cabraser Heimann & Bernstein