CNN: ‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse

CNN: ‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse . “A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles. The four named plaintiffs in the class action lawsuit allege that the auction house ‘misleadingly promoted’ the NFTs and colluded with creator Yuga Labs to artificially inflate their prices.”