Yuga Labs Inc. and a raft of celebrities, including
The nonfungible tokens—and one cryptocurrency—don’t meet the legal test for securities, Judge Fernando M. Olguin said for the US District Court for the Central District of California. But the token buyers, who sued on behalf of a proposed class, will have a chance to re-plead, he said.
The case is among several targeting celebrities for allegedly promoting unregistered securities. Celebrities and YouTube influencers largely …
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