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Sotheby’s, Celebrities Facing Class Action Suit After NFT Market Dive

A cohort of investors is suing Sotheby’s Holdings Inc., among others, in the wake of a 2021 auction of Bored Ape Yacht Club NFTs. So reports CNN.

The investors named others like Paris Hilton and Justin Bieber in the lawsuit after they promoted the tokens ahead of the price collapse. According to the lawsuit, the auction house, in partnership with creator Yuga Labs, “misleadingly promoted” the digital assets in order to inflate their prices.

Read the full article from CNN.

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