#United States #New York #Class Action #NFTs #Game of Silks

Game of Silks NFT Investors Invited to Lead Securities Lawsuit

The Rosen Law Firm has taken the initiative to file a class action lawsuit for individuals who purchased various Game of Silks non-fungible tokens (NFTs). This includes Silks Avatar NFTs, Silks Horse NFTs, and Silks Land NFTs. Investors who feel that they have suffered financial losses due to their investments in these NFTs are now presented with an opportunity to join the lawsuit. The firm is urging those affected to consider stepping forward as lead plaintiffs.

Why a Class Action?

A class action lawsuit enables multiple investors, who have been similarly affected, to join together in their efforts to seek legal recourse against Game of Silks, Inc. Those who wish to take part should be aware that they must take action swiftly, as the deadline to move the court is set for April 25, 2025. Joining this action can provide investors an avenue to seek compensation without incurring out-of-pocket costs, as the law firm operates on a contingency fee basis.

How to Get Involved

Individuals who have purchased NFTs from Game of Silks can join the class action lawsuit by visiting the designated website or contacting Phillip Kim, an attorney at Rosen Law Firm. Interested parties may submit their information online or connect directly via phone or email to learn more about the conditions and the legal process involved. This is a significant opportunity for individuals to band together and address their grievances regarding the investments they've made.

Background of the Case

The lawsuit claims Game of Silks operated a metaverse platform that allowed users to engage in virtual horse racing, thereby encouraging investments in digital renditions of actual racehorses. This venture, introduced in April 2022, allegedly failed to comply with the Securities Act of 1933. Legal representatives assert that the NFTs sold by Game of Silks are, by definition, securities. As such, any sales made should have required formal registration statements submitted to the U.S. Securities and Exchange Commission (SEC), which were reportedly never filed.

The ongoing legal battles allege that Game of Silks not only sold these unregistered securities but also misrepresented and omitted important financial information. This includes a lack of transparency regarding the sustainability and profitability of their business model, which may have misled investors and contributed to their financial losses.

The Importance of Experienced Counsel

Choosing capable legal representation is crucial in such significant matters. The Rosen Law Firm has built a reputation for itself over the years, having successfully handled securities class actions on behalf of investors globally. Their experience is highlighted by notable achievements, including being ranked first for the number of class action settlements in recent years. By aligning with seasoned attorneys, investors can maximize their chances of a favorable outcome.

Next Steps and Considerations

Before participating, potential class members should understand that no class has yet been certified. Until there’s a ruling on class certification, they are not represented by counsel unless they actively choose to retain a lawyer. Interested investors can elect to select their legal representation or remain passive without committing to any legal action at this time. However, each investor’s eligibility to share in any possible recovery won't hinge on being appointed as a lead plaintiff, making this a timely and necessary undertaking.

For ongoing updates regarding the lawsuit, individuals can follow the Rosen Law Firm’s profiles across social media platforms like LinkedIn, Twitter, and Facebook.

As the situation develops, it's recommended that all affected by Game of Silks’ NFT investments remain engaged and informed, making use of the resources available to them through the law firm. By acting collectively, investors have the potential to effect change and seek the accountability they deserve.