The team behind Meme HAWK has been sued by investors for suspected violations of securities laws
2024-12-20 05:32:10
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The team behind Meme Coin HAWK, linked to Internet celebrity Haliey Welch or "Hawk Tuah Girl", has been sued by investors for alleged violations of securities laws, according to a court filing.
HAWK acted like an unregistered security, attracting first-time cryptocurrency investors who subsequently suffered "substantial losses" after the token fell, the lawsuit alleges. The 12 plaintiffs who invested in HAWK, who suffered a total of $151,000 in financial losses, sued and asked for a jury trial. The indictment also alleges that a wallet controlled by the Tuah Foundation collected $3 million from token trading fees.
HAWK acted like an unregistered security, attracting first-time cryptocurrency investors who subsequently suffered "substantial losses" after the token fell, the lawsuit alleges. The 12 plaintiffs who invested in HAWK, who suffered a total of $151,000 in financial losses, sued and asked for a jury trial. The indictment also alleges that a wallet controlled by the Tuah Foundation collected $3 million from token trading fees.
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