SAN FRANCISCO–(BUSINESS WIRE)–National plaintiffs’ law firm Lieff Cabraser Heimann & Bernstein, LLP recommends that Yuga Labs, Inc. (“Yuga” or the “Company”) investors who suffered losses by purchasing Bored Ape Yacht Club NFTs, ApeCoins and virtual lands in the Otherside metaverse between 23 April 2021 and 8 December 2022 contact our attorneys immediately regarding the pending securities fraud class action against Yuga and a number of company insiders and paid promoters. The last day to apply to be the main plaintiff is 6 February 2023.
Class period: 23 April 2021 – 8 December 2022
Deadline for lead claimant: 6 February 2023
Case information: lieffcabraser.com/securities/yugalabs/
Contact Us: Email or text message [email protected] or call 1-800-541-7358
Yuga, incorporated in Delaware and headquartered in Tysons, Virginia, sells NFTs and ApeCoin tokens, as well as virtual “lands” in the Otherside metaverse. One of its NFT brands, 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 to promote Yuga merchandise, including Bored Ape Yacht Club NFTs, to the public. The action alleges that these recommendations artificially inflated the price of Yuga securities by, among other things, falsely portraying their popularity as organic rather than artificially derived.
The securities class action alleges claims against Yuga, along with many of its paid supporters and company insiders, for violations of (1) federal securities laws (including Sections 10(b) and 20(a) of the Exchange Act of 1934 and Rule 10b- 5 promulgated hereunder, and Sections 5, 12(a)(1) and 15 of the Securities Act of 1933; (2) California Unfair Competition Law Cal. Buss. & Prof. Code §17200; (3) California Consumer Legal Remedies Act Cal. Civil Code §1770; (4) Aiding and abetting under California Common Law; and (5) civil conspiracy under California Common Law.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 120 lawyers 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 social responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most significant civil cases in the United States, helping clients recover over $127 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has been committed to ensuring access to justice for all.
