Sotheby’s and Yuga Labs reply to lawsuit from Bored Ape traders

Nice arts public sale home Sotheby’s has lately been named within the class-action lawsuit filed by Bored Ape Yacht Membership (BAYC) traders towards BAYC creators Yuga Labs. The traders allege that the public sale home helped Yuga Labs “deceptively promote” the nonfungible token (NFT) assortment.

On Dec. 10, 2022, BAYC traders filed a class-action lawsuit towards over 40 defendants, together with Yuga Labs and celebrities like Submit Malone, Justin Beiber and Paris Hilton. The lawsuit alleged that Yuga Labs and the celebrities have been capable of “artificially enhance” the costs of the NFTs by superstar promotions.

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