🔴 Madonna and Justin Bieber among A-list celebrities sued over NFT endorsement
It was filed on Thursday 8 December in a Californian federal court and read: “The truth is that the Company’s entire business model relies on using insidious marketing and promotional activities from A-list celebrities that are highly compensated without disclosing such, to increase demand of the Yuga securities by convincing potential retail investors that the price of these digital assets would appreciate.
The complaint claims most of the celebrities were recruited by talent manager Guy Oseary, who used to be Madonna’s manager, who put together a scheme with Yuga Labs to discreetly pay them for their endorsements through crypto firm Moonpay. Each of the famous defendants received digital assets from Moonpay or Yuga Labs for their endorsements, according to the suit.
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