Logan Paul, the renowned American media personality and actor is one of the defendants in a class action lawsuit filed against failed NFT project CryptoZoo.
The class action, filed by police officer Don Holland on behalf of twenty thousand other victims, claims that Paul and other defendants executed a rug pull subsequent to manipulating the price of CryptoZoo’s native token dubbed ZOO.
As per the document, the complaint was recently filed in the U.S. District Court for the Western District of Texas. Other defendants mentioned in the aforementioned document include Jeffrey Levin, Danielle Strobel, Jake Greenbaum, Eduardo Ibanez, and Ophir Bentov.
The complaint comes soon after the renowned internet journalist Stephen Findeisen aka Coffeezilla, claimed the CryptoZoo project was fraudulent in a 3-part series on YouTube.
As reported earlier, Paul accused Coffeezilla of rolling out false information and threatened to sue him for defamation. Nevertheless, in a surprising turn of events, Paul later made an apology and assured to fix things.
However, victims of the failed project have taken legal action against the WWE star and his CryptoZoo partners, accusing them of carrying out a rug pull and failing to deliver on their promises.
The filing mentioned,
“The Defendants promoted CryptoZoo’s products using Mr. Paul’s online platforms to consumers unfamiliar with digital currency products, leading to tens of thousands of people purchasing said products. Unbeknownst to the customers, the game did not work or never existed, and the Defendants manipulated the digital currency market for Zoo Tokens to their advantage.”
The filing added,
“Due to these unconscionable practices, Defendants should disgorge any revenue, profits, or any other gains from their scheme to Plaintiff.”
Notably, the defendants were charged with total 8 counts, including deception, unjust enrichment, and breach of contract. The class action attempts to redress from them and disgorgement of any profit gained from the project.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Ras Al Khaimah’s newly announced free zone for virtual asset firms, the Ras Al Khaimah Digital Assets Oasis (RAK DAO), is exploring […]
March 3, 2023
The French National Assembly has voted in favor of legislating uncompromising licensing rules for new digital asset firms in order to harmonize […]
March 3, 2023
Leave a Reply