Yuga Labs Sued Soon?

Yuga Labs, the development studio behind the popular NFT series Bored Ape Yacht Club (BAYC), could soon face a court case.

The US law firm Scott+Scott is currently preparing legal action against the company. The accusation: The developer studio would have made false promises with BAYC and the ApeCoin investors.

“YUGA LABS leadership used prominent promoters and advocates to inflate the price of the NFTs and the token, promising huge growth and returns to unsuspecting investors.”

Now the law firm is looking for aggrieved investors to prepare a class action lawsuit.

The bottom line is to what extent Yuga Labs' NFTs actually correspond to securities. Should a court classify BAYC and Apecoin as such, the developer studio would have failed to disclose and register.

At the same time, allegations resonate with the NFT collection accusing BAYC of racism

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