Scott + Scott, a consumer rights litigation firm, is investigating whether the leading Web3 company, Yuga Labs, Inc., violated federal securities laws. The firm is also seeing if certain of its officers, directors, promoters, and corporate insiders have played any part in this. Let\u2019s take a closer look at the investigation.<\/p>\n On November 22, 2022, the law firm published the Yuga Labs case, stating that the value of Yuga Labs\u2019 assets has decreased substantially since they launched. It outlines the biggest projects the Web3 company has released and puts emphasis on how much money each project generated. This includes the following assets: Bored Ape Yacht Club, ApeCoin token and The Otherside. Additionally, the case also mentions two articles in particular to support their claims. Among them are, \u201cBored Ape Metaverse Frenzy Raises Millions, Crashes Ethereum\u201d and \u201cBored-Ape Creator Yuga Labs Faces SEC Probe Over Unregistered Offerings\u201d both published by Bloomberg.<\/p>\n Furthermore, the case also states that anyone who purchased Yuga Labs\u2019 assets and suffered a loss (realized or unrealized) can contact attorney Sean Masson. It\u2019s worth noting that these assets also include Mutant Ape Yacht Club and Bored Ape Kennel Club.<\/p>\n Having said that, the BAYC, MAYC and BAKC floor prices were not affected by the publication of this investigation. In fact, the floor prices have increased in value by a considerable amount (24%\u201333%) in the past seven days. In addition, the ApeCoin token price has also increased by 37.1% in the last seven days. Taking all into account, it\u2019s possible Yuga Labs will remain untouched despite these allegations and continue building its legacy.<\/p>\n Founded in 1975, Scott + Scott is an international shareholder and consumer rights litigation firm. They specialize in securities litigation, competition law, and shareholder rights, amongst others, throughout the United States and Europe. The firm has other on-going crypto cases, such as ones involving FTX Trading LTD, Celsius Network LLC, EthereumMax and others.<\/p>\n Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top \ud83d\udc4a\ud83c\udf1a<\/p>\n<\/div>\n<\/div>\n![\"Yuga](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/11\/SEC-probes-Yuga-Labs-over-alleged-sale-of-unregistered-offerings-min.jpg.webp)
\n<\/picture>\n<\/noscript>Scott + Scott\u2019s Yuga Labs case<\/strong><\/span><\/h2>\n
About Scott + Scott<\/strong><\/span><\/h2>\n
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