A-list celebrities, lawyer up! A class-action lawsuit will be targeting influencers who participated in an alleged pump and dump scheme.
A new class-action lawsuit demands a jury trial against A-list celebrities and social influencers for their alleged participation in a classic pump and dump scheme relating to SafeMoon tokens.
Citing the ecosystem’s ‘burn’ and ‘tokenomics’ as a key driver for SafeMoon’s price potential, the recruited celebrities allegedly convinced their followers to invest in the token. The lawsuit alleges a ‘slow rug pull’ attempt from the involved celebrities, implying a slow sell-off of holdings as the trading volume from retail investors remains inflated:
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