Jake Paul and Soulja Boy Sued for SafeMoon Cryptocurrency

Jake Paul, Soulja Boy, and a host of other celebrities are being sued for their involvement in SafeMoon cryptocurrency, with claims that celebrities have made “false or misleading statements” to investors. on social media.

The trio of plaintiffs are to sue SafeMoon LLC, the company behind the SAFEMOON Token, along with several “celebrity promoters,” including Jake Paul and Soulja Boy, for allegedly falsely promoting and selling it.

They accused the company of collaborating with these celebrities and others to make “false or misleading statements” to investors on social media while “faking control of the company”. last name” for available tokens.

SafeMoon LLC

SafeMoon is said to have been sued, along with several “celebrity promoters”.

Describing it as a “plan,” the plaintiffs allege that “misleading promotions” and “celebrity endorsements” artificially inflated the interest and price of the tokens. created, causing investors to buy them at inflated prices.

They also assert that the company conspired with the promoters to sell tokens for profit. This is often referred to as a pump and dump scheme, something the plaintiffs allude to in their filing.

They have filed a class-action lawsuit on behalf of them and all investors who purchased tokens between March 8, 2021 and February 17, 2022. The plaintiffs have also asked for a grand jury. judge.

YouTube: Jake Paul

Jake Paul has been outspoken about his interest in crypto and NFTs.

The plaintiffs are seeking damages and compensation for what they believe they lost by investing in SafeMoon. This includes monetary relief, payment of legal fees and expenses, etc.

The developers of Safemoon have publicly maintained that the token launch is not a “plan”. Developers have moved to the 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 will update this article with more information as it becomes available. Jake Paul and Soulja Boy Sued for SafeMoon Cryptocurrency

Emma Bowman

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