On Thursday (Dec. 8), plaintiffs Adonis Real and Adam Titcher filed the suit claiming celebrities, including Madonna, Justin Bieber, Snoop Dogg, The Weeknd, Post Malone, Kevin Hart, Serena Williams, and more, violated California state laws when they promoted Bored Ape Yacht Club NFTs and failed to reveal their relationships with Yuga Labs, reports Decrypt.
Real and Titcher’s class action suit alleges that the celebrities were a part of an elaborate scheme facilitated by Bored Ape Yacht Club, as the NFT-centric company used their status to inflate the value of BAYC cryptocurrency artificially. In addition, celebrities are said to have committed to “misleading promotions and driving the scheme forward.”
The suit, filed in the U.S District Court’s Central District of California, named 37 co-defendants in total and claimed that MoonPay — the crypto payments startup — also played a role in orchestrating the celebrity endorsements. The plaintiffs seek damages of $5 million for themselves and “all similarly situated.”
Legal documents also claim that the entertainers were discreetly involved in an undercover payment plot filtered through Bored Ape. Guy Oseary, Madonna’s longtime representative, was also implicated in the documentation.
In a word to Variety, a Yuga Labs spokesperson expressed their stance on the lawsuit, claiming that the class action suit was “opportunistic.”
“In our view, these claims are opportunistic and parasitic. We strongly believe that they are without merit, and look forward to proving as much.”