Important Deadline for Game of Silks NFT Purchasers
Rosen Law Firm, a prominent global firm specializing in investor rights, has issued a reminder for individuals who purchased Game of Silks non-fungible tokens (NFTs)—including Silks Avatar, Silks Horse, and Silks Land NFTs—of the crucial deadline set for April 25, 2025, for appointing a lead plaintiff in a class action lawsuit.
Potential Compensation for NFT Buyers
If you have acquired Game of Silks NFTs, there may be an opportunity for you to receive compensation without incurring any out-of-pocket expenses, thanks to a contingency fee structure. This arrangement allows plaintiffs to pursue legal action without upfront costs, providing access to justice for those affected.
Steps to Take for Joining the Class Action
To participate in the Game of Silks class action, interested parties can submit their information through a designated form or reach out to Phillip Kim, Esq., for further details. A class action has already been initiated, and individuals wishing to take on the role of lead plaintiff must file their motion with the court by the specified date. The lead plaintiff serves as a representative for the entire class, guiding the litigation process.
Choosing the Right Legal Counsel
Rosen Law Firm advises investors to carefully select legal representation that has demonstrated success in similar cases. Many firms that distribute notifications may lack the requisite experience, resources, or significant recognition in the field. It is important to be cautious, as some may only act as intermediaries, referring clients to other firms that handle actual litigation.
Background on Rosen Law Firm’s Achievements
The Rosen Law Firm has established itself as a leading advocate for investors worldwide, particularly in securities class actions and shareholder derivative litigation. Notably, the firm secured a historic settlement for a class action against a Chinese company, setting a precedent in the industry. In 2017, it was recognized as the top firm for securities class action settlements and has consistently ranked among the top four firms since 2013, recovering substantial amounts for investors, including over $438 million in 2019 alone. Founding partner Laurence Rosen received accolades as a prominent figure in the plaintiffs’ bar in 2020.
Details of the Case Against Game of Silks
The lawsuit claims that Game of Silks developed a metaverse platform that merges real-life horse racing with blockchain technology, allowing users to invest in virtual representations of actual racehorses and earn revenue based on their 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. Consequently, these NFTs should have been registered with the U.S. Securities and Exchange Commission (SEC), but no such registration occurred. The lawsuit further alleges that the defendants misrepresented and omitted crucial financial information regarding the business’s sustainability and operational model when selling these NFTs.
Class Certification Status
At this moment, no class has been officially certified, meaning potential class members are not represented by legal counsel unless they choose to hire one. Investors have the option to select their counsel or remain uninvolved. Participation in any future recovery does not hinge on being a lead plaintiff.
Stay Updated with Rosen Law Firm
For ongoing updates and information, individuals can follow Rosen Law Firm on LinkedIn, Twitter, and Facebook. Please note that this communication is considered attorney advertising, and past outcomes do not guarantee similar results in future cases.
