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The team behind Meme Coin HAWK is being sued by investors for alleged violations of securities laws.
DailyNews
MEME-0,84%
Golden Finance reported that a court document shows that the team behind the memes HAWK, associated with internet celebrity Haliey Welch or ‘Hawk Tuah Girl’, is being sued by investors for alleged violations of securities laws. The lawsuit alleges that HAWK’s actions are similar to unregistered securities, attracting investors who are making their first cryptocurrency investments, and these investors suffered “enormous losses” after the token declined. The 12 plaintiffs who invested in HAWK collectively suffered a financial loss of $151,000, and they filed a lawsuit demanding a jury trial. The complaint also claims that a wallet controlled by the Tuah Foundation collected $3 million from token transaction fees.
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