Jake Paul & Soulja Boy sued over SafeMoon crypto Instagram: Jake Paul \/ Soulja BoyJake Paul, Soulja Boy, and a slew of other celebrities are being sued for their involvement in the cryptocurrency SafeMoon, with claims that the celebs were making \u201cfalse or misleading statements\u201d to investors on social media. A trio of plaintiffs is suing SafeMoon LLC, the company behind the SAFEMOON Token, along with several \u201ccelebrity promoters,\u201d including Jake Paul and Soulja Boy, for allegedly misleadingly promoting and selling it. They accused the company of collaborating with these celebrities and others to make \u201cfalse or misleading statements\u201d to investors on social media while \u201cdisguising their control\u201d over the tokens available. Describing it as a \u201cscheme,\u201d the plaintiffs claimed the \u201cmisleading promotions\u201d and \u201ccelebrity endorsements\u201d artificially increased the interest in and price of the tokens, causing investors to buy them at inflated prices. They also asserted the company conspired with promoters to sell tokens for profit. This is commonly called a pump-and-dump scheme, something the plaintiffs allude to in their filing. They brought the class action lawsuit on behalf of themselves and all investors who purchased the tokens between March 8, 2021 and February 17, 2022. The plaintiffs have also requested a trial by jury. The plaintiffs are seeking damages and restitution for what they believe they lost by investing in SafeMoon. This includes monetary relief, payment of legal fees and costs, and more. Safemoon\u2019s developers have publicly maintained the token\u2019s launch was not a \u201cscheme.\u201d The developers moved to a second-version of the token in January 2022. Neither the company nor the celebrities mentioned in the legal document have publicly addressed the claims. We\u2019ll update this article with more information if they do.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jake Paul & Soulja Boy sued over SafeMoon crypto Instagram: Jake Paul \/ Soulja BoyJake Paul, Soulja Boy, and a slew of other celebrities are being sued for their involvement in the cryptocurrency SafeMoon, with claims that the celebs were making \u201cfalse or misleading statements\u201d to investors on social media. A trio of plaintiffs is […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-51569","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/51569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/comments?post=51569"}],"version-history":[{"count":0,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/51569\/revisions"}],"wp:attachment":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/media?parent=51569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/categories?post=51569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/tags?post=51569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}