⚖️ Nike Faces Class-Action Lawsuit Over RTFKT NFT Shutdown
Nike is facing a class-action lawsuit accusing it of orchestrating a "rug pull" after shutting down its NFT platform, RTFKT, earlier this year.
Filed on April 25 in a Brooklyn federal court, the suit led by Jagdeep Cheema and a group of RTFKT users alleges that Nike promoted its sneaker-themed NFTs to attract investors, only to abruptly close the platform, causing users to suffer significant financial losses.