By Abir Pothi
The class action lawsuit centers on allegations that Sotheby’s, in tandem with Yuga Labs, engaged in deceptive practices to artificially inflate the value of Bored Ape Yacht Club NFTs.
In response to the allegations, Sotheby’s vehemently denied the claims, deeming them “baseless.” The auction house asserted its readiness to vigorously defend itself against the lawsuit
The class action lawsuit against Sotheby’s highlights the complex intersection of traditional institutions, emerging technologies, and evolving market practices.