The Securities and Exchange Commission had engaged itself in the act of investigating the suspicious goings-on at Yuga Labs, which happens to be a prime and important NFT-based project. Along with them, a consumer rights organization by the name of Scott+Scott, decided to join the fray.
They, too, participated in parallel investigations using their own technique. In spite of this, they have decided to move forward and have brought everyone associated in any manner with Yuga Labs. These include some of the selected officers who they feel require being under the microscope, as well as some directors of the company.
As a further part of the proceedings and to add to all of that, the promoters of the company are also going to be put under the scanner and thoroughly scrutinized. The factor that holds a high level of priority for them is to correctly ascertain whether any federal security-related laws have been violated or breached in any sense whatsoever. According to them, the matter is indeed serious, and no stone should be left unturned in making the proper identifications.
According to reliable sources and the information that has been passed on, the first seeds of doubt were sown with the realization that there seemed to be a continuous downslide in the assets of Yuga Labs and, thus, the present lawsuit.