Iggy Azalea faces class lawsuit over MOTHER memecoin
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A class-action group has accused rapper Iggy Azalea of not following through on delivering utility and business integrations for her memecoin, Mother Iggy.
Rapper Iggy Azalea is facing a class-action lawsuit in the US, accusing her of misleading investors about the real-world utility and future development of her Solana-based memecoin Mother Iggy (MOTHER).
The complaint filed by plaintiff Kenneth Kolbrak in a Manhattan federal court on Monday claimed Azalea, whose real name is Amethyst Amelia Kelly, made representations about the token having real-world utility, commercial integrations and continuing development that never materialized.
“Those representations were limited, incomplete, contradicted, temporary, or not delivered in a durable way,” the complaint said. “The terms and effects of the market support arrangements were never disclosed to consumers.”
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