Dolce & Gabbana USA Cleared of NFT Lawsuit Over Project Abandonment
- A New York federal court dismissed a class-action lawsuit against NFT buyers, clearing Dolce & Gabbana USA Inc.
- The lawsuit claimed the company failed to deliver on its “DGFamily” NFT project launched in 2022, allegedly keeping over $25 million.
- Judge Naomi Reice Buchwald ruled that Dolce & Gabbana USA was not an “alter ego” of its Italian parent company, Dolce & Gabbana SRL.
- The suit alleged that promised benefits included digital outfits for Decentraland and physical clothing but were not fulfilled.
- D&G USA argued it had no ties to the NFT project and did not engage in any joint ventures related to NFTs.
The dismissal raises questions about the future of the lawsuit, as Dolce & Gabbana USA was the only US-based defendant named in the complaint, which also included international entities like UNXD Inc.
With the court finding insufficient evidence linking D&G USA to the alleged misconduct, this ruling effectively clears them from liability regarding the abandoned NFT project worth millions.(Source)
