Legal Reminder for Game of Silks NFT Buyers
Rosen Law Firm, a prominent legal practice focused on investor rights, is alerting individuals who purchased non-fungible tokens (NFTs) from Game of Silks—including Silks Avatar NFTs, Silks Horse NFTs, and Silks Land NFTs—of the crucial deadline for filing as lead plaintiff, which is set for April 25, 2025.
Potential Compensation for NFT Purchasers
If you have acquired Game of Silks NFTs, you may qualify for financial compensation without incurring any upfront legal fees through a contingency fee arrangement. This means that legal fees are only paid if the case is successful.
Next Steps for Interested Parties
To become involved in the Game of Silks class action lawsuit, interested individuals should submit their information through the designated channels or contact Phillip Kim, Esq., for further details. A class action has already been initiated, and those wishing to take on the role of lead plaintiff must file with the court by the aforementioned deadline. The lead plaintiff acts on behalf of the entire group in managing the litigation process.
Choosing the Right Legal Representation
Investors are advised to choose legal counsel with demonstrable experience and a successful track record. Often, firms that distribute notices may lack the necessary expertise, resources, or industry recognition. Some may merely act as intermediaries, referring clients to other law firms without directly managing the litigation.
About Rosen Law Firm
The Rosen Law Firm provides legal representation to investors globally, specializing in securities class actions and shareholder derivative lawsuits. The firm has achieved significant milestones, including the largest securities class action settlement involving a Chinese company at that time. It has been consistently recognized for its success in securities class action settlements since 2013, and in 2019 alone, the firm secured more than $438 million for investors.
Case Details and Allegations
The lawsuit claims that Game of Silks developed a metaverse platform that integrates real-world horse racing into the blockchain, allowing users to invest in virtual representations of actual racehorses and derive income based on their real-world performance. The complaint asserts that the Game of Silks NFTs, which began selling in April 2022, qualify as securities under the Securities Act of 1933, thus necessitating the preparation and filing of registration statements with the U.S. Securities and Exchange Commission (SEC), which were never submitted. It further alleges that Game of Silks breached the Securities Act by selling these unregistered NFT securities and made significant misstatements and omissions regarding their financial situation and business sustainability.
Important Class Action Information
To engage in the Game of Silks class action, individuals can use the provided contact methods for more information. It is important to note that no class has been officially certified yet, meaning individuals are not represented unless they choose to retain their own counsel. Investors may also opt to remain uninvolved at this stage, as their ability to benefit from any future settlements is not contingent upon serving as a lead plaintiff.
Contact Information
For inquiries, individuals can reach out to Laurence Rosen, Esq. or Phillip Kim, Esq. at The Rosen Law Firm, P.A., located at 275 Madison Avenue, 40th Floor, New York, NY 10016. They can be contacted via phone or fax, or through email for further assistance.
