NBA Top Shot NFTs could be unregistered securities, judge says
The judge ruled that plaintiffs have “adequately alleged” that these NBA-themed NFTs passed the Howey Test.
Cryptocurrency news by Protos · Protos
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Show Notes
A New York judge has ruled that a proposed class-action lawsuit against Dapper Labs and its Top Shot Moments NFT collection can move forward because the offering could have been an unregistered securities offering.
In the eyes of the plaintiffs, the offering should have registered with the SEC but instead, it opted to withhold important information from investors about the risks of investing in its NFTs. Many of these have collapsed since their purchase.
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