YouTube Stars Nelk Boys Push Back Against NFT Lawsuit
Defense attorneys for YouTubers Kyle Forgeard and John Shahidi, known as the Nelk Boys, have filed a motion to dismiss a class action lawsuit alleging fraud related to their Full Send Metacard NFT project. The lawsuit claims the defendants misled consumers about exclusive perks and community access before the January 19, 2022, sale, which induced purchases. The complaint states that misleading statements continued post-sale, delaying realization of the alleged deception. The defense argues the lawsuit lacks specific false claims and is moot since a full refund was offered to all Metacard holders, including the plaintiff. The Nelk Boys launched the Metacard NFT project in January 2022, raising approximately $23 million, but the collection's value has since dropped by 91%. The defense contends that the complaint fails to identify any pre-sale misrepresentations and that the plaintiff's claims are based on regret rather than fraud.
