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INVESTIGATION ALERT:  Scott+Scott Attorneys at Law LLP Announces Investigation into Yuga Labs, Inc.

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NEW YORK–()–Scott+Scott Lawyers at LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether Yuga Labs, Inc. (“Yuga” or the “Company”) or any of its officers, directors, promoters and insiders securities laws. If you bought Yuga stock (for example, non-fungible Bored Ape Yacht Club, Mutant Ape Yacht Club or Bored Ape Kennel Club tokens, ApeCoin tokens or virtual land) and suffered losses on your Yuga investments, you are encouraged to contact Scott+Scott’s attorney Sean Masson at (212) 519-5522 or smasson@scott-scott.com.

CLICK HERE TO LEARN MORE ABOUT PARTICIPATION IN THIS SURVEY

Yuga Labs, Inc. (“Yuga”) sells a suite of digital assets, including ApeCoin tokens, virtual land in its metaverse, and various collections of non-fungible tokens (“NFTs”). Yuga’s flagship product is the NFT Bored Ape Yacht Club collection.

On April 20, 2021, Yuga created the Bored Ape Yacht Club NFT Collection, minting a total of 10,000. As the name suggests, NFTs feature digital images of a cartoon monkey with a bored facial expression. Yuga’s promotional efforts related to the Bored Ape Yacht Club and its ecosystem have been able to generate hundreds of millions of dollars for Yuga and corporate insiders through the sale and resale of the Yuga NFTs.

On March 17, 2022, Yuga issued the ApeCoin token in a public offering, withholding approximately 32% of the total offering for founders, executives, and other insiders.

On April 30, 2022, Yuga launched a virtual land sale related to its metaverse project, offering 55,000 parcels of virtual land and raising approximately $320 million in cryptocurrency. As Bloomberg noted in an article titled “Bored Ape Metaverse Frenzy Raises Millions, Crashes Ethereum,” this virtual land sale was “the largest offering of its kind.”

On Oct. 11, 2022, Bloomberg published an article titled “Bored Ape Maker Yuga Labs Faces SEC Probe Over Unregistered Offerings,” reporting that the Securities and Exchange Commission had launched an investigation into Yuga’s suite of digital assets and the sale of unregistered securities.

Since the launch of Yuga stocks, their price has dropped dramatically due to heavy trading volume.

What can you do – CLICK HERE

If you have purchased Bored Ape Yacht Club, Mutant Ape Yacht Club, or Bored Ape Kennel Club non-fungible tokens, ApeCoin tokens, or virtual land in the Yuga metaverse and have suffered a loss, realized or unrealized, and would like to discuss your investigation, please contact attorney Sean Masson at (212) 519-5522 or smasson@scott-scott.com.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience prosecuting major cryptocurrency, securities, antitrust and employee retirement plans in the United States. The firm represents pension funds, foundations, individuals and other entities worldwide with offices in New York, London, Connecticut, California and Ohio.

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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