Lawsuit: Sotheby’s $24M sale to FTX gave Bored Ape NFTs "an air of legitimacy."
Highlights
- Sotheby’s auction duped investors by giving the Bored Ape NFTs “an air of legitimacy,” lawsuit claims.
- It wasn’t revealed at the time of the auction that the buyer was the now-disgraced FTX, lawsuit says.
- The original class-action was filed in December 2022, and Sothebys was added as a defendant in an amended complaint submitted on August 4.
- The lawsuit alleges that the Boring Ape creator Yuga Labs “colluded with fine arts broker” to run a deceptive auction.
- After the sale, a Sothebies representative described the winning bidder as a “traditional” collector, the lawsuit said.
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