Crypto meme coin $HAWK’s creator, Clinton So, is facing a lawsuit in the US District Court in New York. The suit accuses So, Alex Larson Schultz, and social media influencer Haliey Welch (aka “Hawk Tuah Girl”) of unlawfully promoting and selling unregistered cryptocurrency. The token rose to a $490 million market cap before plummeting 95% within minutes.
The lawsuit claims insider trading and deceptive promotional practices took place, exploiting Welch’s popularity to market the token. Welch has stated she didn’t have an active role in the coin rollout but is committed to helping affected investors. Billionaire investor Mark Cuban has defended Welch, saying she trusted the people around her.
The class-action lawsuit follows two weeks of silence from Welch after the crypto crash. She has encouraged investors to contact Burwick Law for assistance and help uncovering the truth about the matter.
Source: https://www.hollywoodreporter.com/business/digital/haliey-welch-hawk-tuah-girl-meme-coin-sued-statement-1236091812