Monday, 28 April, 2025

Nike Faces $5M Lawsuit Over RTFKT NFT Shutdown and Alleged Securities Violations

Nike is confronting a proposed class-action lawsuit filed in New York's Eastern District by consumers who purchased NFTs through its RTFKT project. The plaintiffs allege that Nike misled them by selling unregistered securities and abruptly terminating the virtual shoe initiative in early 2024. The lawsuit seeks over $5 million in damages for alleged violations of consumer protection laws in New York, California, Florida, and Oregon.