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Legal Analysis: NFT Lawsuit Alleges Sale of NBA Top Shot Moments by Dapper Labs Violates Securities Laws


Legal Analysis: NFT Lawsuit Alleges Sale of NBA Top Shot Moments by Dapper Labs Violates Securities Laws
A newly filed lawsuit alleges that the sale of
NBA Top Shot “Moments” is in violation of the federal
Securities Act of 1933, which is a law that aims to ensure investor protection when acquiring publicly-traded securities.
Michael McCann and
Jacob Feldman from
Sporticonote that the Act intends to prevent fraudulent activities during the marketing of such securities.
Vancouver-headquartered Dapper Labs, a blockchain startup that has teamed up with NBA, and its Chief Executive,
Roham Gharegozlou, have been accused of marketing and selling unregistered securities. The firm has put forward its own set of defenses that it may present in any upcoming court filings. ....

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