Soulja Boy and Lil Yachty, and YouTube personality Jake Paul, are among the defendants in a class action lawsuit over an alleged cryptocurrency “pump and dump” scheme.As reported by ClassAction.org, a lawsuit claims that Soulja, Yachty and Paul, as well as musician Nick Carter and YouTuber Ben Phillips, were recruited by the company SafeMoon to misleadingly promote and sell the cryptocurrency token ‘V1’.It is alleged that the endorsements were intended to artificially inflate the currency’s value, allowing founder and CEO Braden John Karony and other executives to sell their holdings for a profit while numbers were high.The suit says that the so-called ‘pump and dump’ strategy saw the value of the SafeMoon token rise “astronomically” after its creation in March 2021. It claims that the trading volume for SafeMoon tokens shot up a staggering 875 percent within nine days of the celebrity-driven marketing campaign, peaking at $191.6 million on April 22, according to the complaint.Central to the lawsuit is SafeMoon’s promise to create a designated ‘wallet’, in which investors would “have a better place” to hold their tokens.
Opulous says Lil Yachty lawsuit is “meritless”
03.02.2022 - 15:21 / completemusicupdate.com
Music NFTs start-up Opulous has responded to a lawsuit filed by Lil Yachty, insisting that the claims in that legal filing are “meritless” and that the company will defend itself “vigorously”.Opulous is a music-centric fin-tech and NFTs platform launched by the founders of Ditto Music. Specifically in the NFTs space, it has launched a fan-funding product that allows investors and fans to pledge money to an artist linked to an upcoming track and to then share in any royalties said track subsequently generates.
That royalty right is logged on the blockchain as an NFT and then administered by Ditto, which distributes the music.The service properly launched last year with an NFT drop involving Lil Pump and Soulja Boy. However, prior to that in pre-launch communications the start-up identified Lil Yachty as an artist set to be involved in the venture.In his lawsuit, the rapper claimed that he had not, in fact, agreed to work with Opulous.
He and his management team had had a couple of meetings with the firm’s founder Lee Parsons and Chief Marketing Officer Fernando Cruz, but those were basically introductory meetings and did not result in Lil Yachty making any commitments to the company.Therefore, by mentioning him in its formal communications, the NFTs start-up was “falsely representing that plaintiff, Lil Yachty, was affiliated, connected and associated with the Opulous platform”.Not so, says Opulous. In a short statement responding to last week’s lawsuit the firm says: “Contrary to the assertions in the complaint filed by Lil Yachty, Opulous’s uses of Lil Yachty’s name and likeness were all authorised by Lil Yachty and his representatives.
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Prince Harry Says He ‘Does Not Feel Safe’ Returning to the U.K. With His Family
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Tristan’s Baby Mama Says He’s Done ‘Nothing’ to Support Their Son—He Hasn’t Even Tried to ‘Meet’ Him
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Tristan Thompson’s Baby Momma Says He’s Done 'Nothing To Support Their Son'
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‘Marry Me’ Director Kat Coiro Says Embracing Rom-Com Tropes ‘Unabashedly and Unapologetically’ Was a Priority (Video)
director Kat Coiro made a point to ensure that.The film’s star Jennifer Lopez may be the queen of the early 2000s romantic comedy, but Coiro notes that when putting together “Marry Me,” she wasn’t trying to imitate any of those. Really, there wasn’t a single movie in particular that Coiro was trying to emulate at all.“I think it was less about what I wanted to emulate and more about embracing the genre as a whole,” Coiro explained to TheWrap.
Arnold Schwarzenegger Says Being A Grandfather Is ‘The Easiest Thing’
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‘The Lost City’ Lands Big-Game Spot Featuring Channing Tatum, Sandra Bullock, Daniel Radcliffe & Brad Pitt
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Jennifer Lopez Says Getting Back Together With Ben Affleck Has Been ‘A Beautiful Thing’
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‘Moonfall’ Director Roland Emmerich Says Marvel Superhero Movies And ‘Star Wars’ Are ‘Ruining’ Originality In Cinema
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Channing Tatum Talks Almost Quitting Hollywood And Wearing A Fabio Wig In ‘The Lost City’
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SXSW: ‘Apollo 10½,’ ‘The Lost City’ and ‘Unbearable Weight of Massive Talent’ Headline 2022 Film Fest Lineup
HEADLINERSBig names, big talent: Headliners bring star power to SXSW, featuring red carpet premieres and gala film events with major and rising names in cinema.Apollo 10 1/2: A Space Age ChildhoodDirector/Screenwriter: Richard Linklater, Producers: Tommy Pallotta, Mike Blizzard, Femke Wolting, Bruno FelixA coming-of-age story set in the suburbs of Houston, Texas in the summer of 1969, centered around the historic Apollo 11 moon landing. Cast List: Jack Black, Zachary Levi, Glen Powell, Josh Wiggins, Milo Coy, Lee Eddy, Bill Wise, Natalie L’Amoreaux, Jessica Brynn Cohen, Sam Chipman, Danielle Guilbot (World Premiere)AtlantaDirector: Hiro Murai, Producers: Donald Glover, Stephen Glover, Hiro Murai, Stefani Robinson, Paul Simms and Dianne McGunigleTaking place almost entirely in Europe, Season 3 of FX’s Atlanta finds Earn, Alfred ‘Paper Boi,’ Darius and Van in the midst of a successful European tour, as the group navigates their new surroundings as outsiders, and struggle to adjust to the newfound success they had aspired to.
Lil Yachty sues music NFT start-up Opulous for trademark infringement
The rapper Lil Yachty has sued Opulous – the music NFTs start-up launched by the founders of Ditto Music – accusing it of using his name and brand as part of launch communications, even though he had not agreed to get involved in the venture.In a lawsuit filed last week, the rapper – real name Miles McCollum – claims that while he and his management team had meetings with Opulous founder Lee Parsons and its Chief Marketing Officer Fernando Cruz in May last year, they never signed up to work with or endorse the NFT start-up.Opulous is a platform that encourages fans and investors to buy non-fungible tokens linked to new music being created by participating artists. Those NFTs provide fans and investors with a royalty right, so that they share in any future income generated by a track.
Joe Lycett says pal's tragic death in lockdown sparked fake Sue Gray report
Joe Lycett recently caused panic in Parliament after he leaked a parody report about the Downing Street lockdown parties. And now, the comedian's heart-breaking reason for doing so has been revealed. Joe, 33, lost his best friend at the start of lockdown and he had to hold a "tiny insufficient funeral" due to rules in place at the time.