Yuga Labs Inc. Securities Class Litigation
Securities class action litigation has been filed against Yuga Labs, Inc. (“Yuga” or the “Company”) on behalf of investors who suffered losses from purchasing Bored Ape Yacht Club NFTs, ApeCoins, and/or virtual land in the Otherside metaverse between April 23, 2021 and December 8, 2022, inclusive (the “Class Period”).
If you purchased or otherwise acquired Bored Ape Yacht Club NFTs, ApeCoins, and/or virtual land in the Otherside metaverse during the Class Period, you may move the Court for appointment as lead plaintiff by no later than February 7, 2023. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Investors in the Yuga financial products named above who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email firstname.lastname@example.org, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the Yuga Securities Class Litigation
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.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, 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. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.