Adidas, Paris Hilton and More Celebrities Sued Over ‘Misleading’ Bored Ape NFT Promotions
December 13, 2022
Adidas and a slew of celebrities, including Paris Hilton, Stephen Curry and Serena Williams, have been named in a class action lawsuit over their promotion of digital currencies and NFTs from Yuga Labs, including its flagship NFT collection Bored Ape Yacht Club (BAYC).
With regard to Adidas, the suit claims that the sportswear company acted as an “agent and direct or indirect spokesman” for Yuga, given its capital investment in the company, and authorized “the solicitations of Yuga securities to the public.” Last December, Adidas released its first NFT collection in collaboration with Bored Ape Yacht Club. FN