NFT

DraftKings Settles NFT Class Action for $10 Million Amid Claims of Unregistered Securities

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BOSTON — DraftKings, the well-known gambling company, has agreed to a $10 million settlement in a class-action lawsuit regarding its sales of non-fungible tokens (NFTs) through a marketplace that is no longer in operation. The lawsuit was spearheaded by lead plaintiff Justin Dufoe and represented others who had purchased NFTs from DraftKings. The preliminary approval for the settlement was granted by Judge Denise Casper of the Boston federal court on February 28, following a motion filed by the plaintiff’s group a few days prior. The settlement, which awaits a final approval, proposes a split of … Read more

Shaquille O’Neal Agrees to $11 Million Settlement for Injured Crypto Investors in NFT Lawsuit

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MIAMI — On Tuesday, a federal judge in Miami gave the initial green light to an $11 million settlement fund, stemming from a class-action lawsuit involving famed former basketball player Shaquille O’Neal. This preliminary agreement addresses claims from investors who allege they suffered financial losses linked to the Astrals Project nonfungible tokens (NFTs) and GLXY tokens. The Moskowitz Law Firm, helmed by managing partner Adam Moskowitz in Coconut Grove, Florida, represents the certified class of affected investors. Moskowitz, alongside his colleague Joseph M. Kaye and the team from Mark Migdal Hayden, including Jose M. Ferrer … Read more

NFT Lawsuit Backfires: Ryder Ripps and Jeremy Cahen Face $9 Million Penalty and Asset Seizure from Yuga Labs

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Los Angeles, CA – Ryder Ripps and Jeremy Cahen have been ordered by a U.S. District Judge to pay nearly $9 million to NFT company Yuga Labs. In a lawsuit filed by Ripps and Cahen, they were seeking a massive payout of $100 billion from the company. However, the final judgment ruled in favor of Yuga Labs, resulting in the substantial payment. The dispute between Yuga Labs and Ripps and Cahen stems from the creation of the “copycat” RR/BAYC collection. In October 2023, a federal judge ruled in favor of Yuga Labs, marking a significant … Read more