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CryptoWorld News reports that Wu said that Burwick Law issued a statement indicating that it has filed a federal class-action lawsuit on behalf of the parent token buyer against Iggy Azalea.
The complaint alleges that Azalea induced consumers to purchase the token by promising that the parent token would have real-world utility, but the relevant promises were not fulfilled as expected.
Burwick Law states that the parent token has fallen 99.5% from its historical high.
The relevant allegations are still subject to the court's ruling.