Defendants for YouTubers Kyle Forgeard and John Shahidi, often known as Nelk Boys, have moved to dismiss the category motion lawsuit accused of fraud towards the full-send Metacard NFT venture.
Nelk Boys' attorneys argued that the plaintiff refused to refund the complete quantity and that the criticism had no particular false claims.
The lawsuit was filed in January on behalf of a Metacard NFT purchaser, alleging that the defendant misinterpreted the buyer with unique perks and group entry guarantees.
It’s also stated that the pair misrepresented the metacard program earlier than January 19, 2022. This led the plaintiff to buy the token that day.
The lawsuit alleges that after the NFT was offered, the defendants continued to make deceptive statements to delay the plaintiff and different potential class members from realizing that they’d been deceptive.
“The defendant's false and deceptive statements had been extensively distributed by means of press releases, social media posts, YouTube movies, podcasts and different promotional supplies associated to Fullssend and Metacard,” the criticism states.
In a movement filed April 17 within the US District Court docket for the Central District of California, the Nerk Boys' protection argued that the go well with failed to satisfy fundamental fraud requirements and was controversial as a result of provide of a refund.
“After the broader NFT market collapsed, the defendant supplied all metacard holders, together with the plaintiff, and supplied full refunds and curiosity, denying these claims,” the lawyer wrote. “The plaintiff could remorse his buy and refuse a full refund. Nevertheless, remorse won’t sue fraud. The criticism ought to be dismissed.”
Based in 2010 by Forgeard and Jesse Sebastiani, Nelk Boys is a prank video and a bunch of Canadian-American entertainers recognized for his or her party-themed manufacturers that embody full-send podcasts, merchandise and alcoholic drinks. Nelk Boys boasts 8 million subscribers on YouTube and 674,000 followers on X.
Smelling salt clear freshener
– Nelk Boys (@nelkboys) April 17, 2025
Nelk Boys launched the Metacard NFT venture in January 2022. The gathering of 10,000 Ethereum NFTs every offered for round 0.8 ETH every, and on the time, raised about $23 million.
On the time of writing, the gathering fell 91% to $111 from the ground worth of $111, based on Coingecko information.
The protection stated the criticism did not establish any specific pre-sale misrepresentation, false statements, or proof that the plaintiff relied on in buying the Metacard NFT, claiming that the suspicious promise was largely according to the perks that the plaintiff admitted to receiving.
“The plaintiff's claims are rising and falling over what he was instructed earlier than he purchased the Metacaltard. Nevertheless, the criticism by no means identifies the pre-sale assertion. That's unfavourable,” the protection stated. “Every part else is legally irrelevant, from post-sales feedback to generality and remorse.”
The plaintiff and defendant's legal professionals didn’t reply. Decrypt's Request a remark.
Edited by Sebastian Sinclair and Josh Quittner
