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Nike Facing Class Action Suit Over RTFKT NFT Drop

The $5M suit alleges that Nike rug-pulled its unregistered securities by shutting down the subsidiary.
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Apr 28, 2025 • 1 min read

Nike faces a $5M lawsuit alleging securities violations over its RTFKT NFT drop, as investors claim abandoned support devalued the NFTs.

What’s the Scoop?

  • Alleged 'Soft Rug Pull': Plaintiffs claim Nike propped up unregistered securities tied to RTFKT NFTs, then withdrew support, devaluing the assets.
  • Legal Accusations: The lawsuit claims consumer protection violations stemming from Nike's marketing and alleged failure to sustain the project.
  • Seeking Damages: Investors seek $5 million in damages for the depreciation in NFT value after Nike wound down its efforts.

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