Investor Alert: Class Action Lawsuit Filed Against Midnight Hub for NFT Losses

NEW YORK, Jan. 01, 2025 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a well-known law firm, has announced that a class action lawsuit has been initiated on behalf of investors who purchased ROOMS non-fungible tokens ("NFTs") and Digital Nomads NFTs from Midnight Hub.

Overview of the Class Action

This lawsuit aims to seek recovery for losses incurred by investors due to alleged violations of federal securities laws. It includes all individuals and entities that bought or acquired ROOMS NFTs and Digital Nomads NFTs from Midnight Hub between January 15, 2023, and March 31, 2024 (the "Class Period"). Investors affected by this situation are encouraged to participate in the lawsuit by visiting the law firm's website.

Details of the Complaint

The complaint alleges that during the Class Period, representations made by the defendants about the NFTs contained false or misleading statements of significant fact. The complaint asserts that, at the time when the NFTs were sold, the defendants had no actual plans for developing any infrastructure for Midnight Hub or its decentralized projects, such as Digital Nomads TV. Furthermore, it is claimed that the primary motive for the defendants was to profit from the hype surrounding the project rather than any genuine intention to develop the platform.

Steps Moving Forward

A class action lawsuit is currently underway. Individuals wishing to view a copy of the complaint can find it on the law firm's website, or can reach out directly to attorneys Peretz Bronstein or Nathan Miller at the firm. Investors who have experienced losses with ROOMS NFTs or Digital Nomads NFTs have until January 06, 2025, to request to be appointed as lead plaintiffs. However, it should be noted that participating in the recovery process does not necessitate serving as a lead plaintiff.

Cost-Free Representation

The law firm operates on a contingency fee basis, meaning that clients will not incur upfront costs. The firm will seek reimbursement for expenses and attorney fees, typically a portion of any settlement that is achieved, only if they succeed in the lawsuit.

Why Choose Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a reputable firm specializing in representing investors in class actions related to securities fraud and shareholder derivative actions. The firm has a successful track record, recovering substantial amounts for investors across the country.

Investors should keep in mind that this announcement constitutes attorney advertising. Previous outcomes do not guarantee similar results in the future.

Contact Information

For more details, investors can contact: Bronstein, Gewirtz & Grossman, LLC, Peretz Bronstein or Nathan Miller at 332-239-2660 or via email at [email protected].

lawsuit, NFTs, investors