The closely-watched lawsuit that Nike filed against StockX over its sale of non-fungible tokens (“NFTs”) has seemingly spawned a separate but related lawsuit that accuses the fashion and footwear marketplace of misleading consumers about the nature of its offerings. On the heels of Nike first alerting a New York federal court that it was looking to amend the initial complaint that it filed against StockX to include claims of counterfeiting and false advertising on the basis that StockX guarantees its offerings “as ‘100% Verified Authentic’ based on its ‘proprietary’ authentication process when they are not,” an individual plaintiff lodged a proposed class action complaint – that piggybacks on such allegations – against StockX.
According to the complaint that he filed with a federal court in Miami on May 13, Heriberto Valiente claims that while he “believed and expected that the products bought and sold on the [StockX] platform were 100% authentic … credible reports indicate that a significant percentage of the items sold through StockX are not ‘100% Verified Authentic,’ but counterfeit.” In addition to its “sale of allegedly non-authentic items” (which StockX denied in response to Nike’s amended complaint), Valiente claims that StockX “recently began selling Vault NFTs, linked to corresponding physical pairs of collectible sneakers held in its facilities.”
Taking issue with the NFTs, Valiente points to a “recent” – but otherwise unspecified – “story by Input Magazine...
Days after Hayden Panettiere recalled being put in bed with a well-known man by someone she trusted, social media sleuths zeroed in on one name Diana Jerkins. The former Real Housewives of Beverly...