Gwyneth Paltrow and Jimmy Fallon are among those accused of urging people to buy 'losing investments' without disclosing payments for endorsements.
The lawsuit, seen by Gizmodo, named celebrities who were reportedly used to increase revenue by “billions of dollars” that were generated by their endorsements. The plaintiffs, Adonis Real and Adam Titcher claim the campaign artificially inflated the interest and price of BAYC, “causing investors to purchase these losing investments at drastically inflated prices.”
Real and Titcher filed the lawsuit last week and are seeking monetary damages for themselves and others affected by the alleged scheme.Guy Oseary, a talent manager for stars including Madonna and U2, is named as the primary defendant in the lawsuit. Oseary is a partner in Yuga Labs and is allegedly heavily involved in managing many of the celebrities who promoted BAYC NFTs., of which he is an investor, to promote and sell digital assets.
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