Yuga Labs, Inc.

Ticker: ...

Class Period Start: 04/23/2021

Class Period End: 12/08/2022

Registration Deadline: 02/07/2023

A securities class action lawsuit has been filed in the USDC – C.D.CA. on behalf of purchasers of Yuga securities, which were sold as various non-fungible tokens (or “NFTs”) and the native token ApeCoin (APE) on various cryptocurrency exchanges, between April 23, 2021 and December 8, 2022, inclusive (the “Class Period”). The case is against Yuga Labs, Inc., Wylie Aronow, Greg Solano, Kerem Atalay, Zeshan Ali, Nicole Muniz, Jasmin Shoemaker, Patrick Ehrlund, Christopher Lyons, Alexis Ohanian, Amy Wu, Maaria Bajwa, Dean Steinbeck, Guy Oseary, Mike Winkelmann, Madonna Louis Ciccone, Paris Hilton, James Fallon, Electric Hot Dog, Inc., Universal Television, LLC, Justin Bieber, Gwyneth Paltrow, Serena Williams, Thomas Pentz, Austin Richard Post, Calvin Broadus Jr., Kevin Hart, Alexander Pall, Andrew Taggart, Wardell Stephen Curry II, Nayvadius Wilburn Cash, Abel Tesfaye, Khaled Mohammed Khaled, Adidas America Inc., Adidas Venture B.V., Ivan Soto-Wright, and Moonpay USA LLC (together, “Defendants”).

Yuga is a cryptocurrency-related company that offers investors a suite of digital assets, including various collections of NFTs and the Company’s native token ApeCoin).  Yuga’s brand and flagship NFT collection is referred to as the Bored Ape Yacht Club (“BAYC”).

The complaint alleges that Defendants violated provisions of the Exchange Act by making false and misleading statements concerning Yuga’s growth prospects, financial ownership, and financial benefits for Yuga securities investors, as well as using celebrity promotors to lure in unsuspecting investors so that Yuga insiders could sell the unregistered Yuga securities in violation of the Securities Act.

On November 13, 2022, the price of the ApeCoin Token hit a low of $2.70 per token, an approximately 90% drop from its height during the Class Period, which it has not been able to recover.

On November 14, 2022 the floor price of the Company’s NFT collections including the BAYC, Mutant Ape Yacht Club, and Otherdeed virtual land fell to similar Class Period lows.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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