CNN reported:
A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles.
The four named plaintiffs in the class action lawsuit allege that the auction house “misleadingly promoted” the NFTs and colluded with creator Yuga Labs to artificially inflate their prices.
Sotheby’s is among 30 defendants named in the lawsuit, with celebrities like Justin Bieber and Paris Hilton also accused of promoting the NFT collection without disclosing their financial links to it.
Glad someone woke up from their investment fantasy. They finally
left their delusion after seeing the giant hole in their pocketbook. Hurts
doesn't it. That's the lesson. One still has too much money if they
are hiring high dollar lawyers and suing.
