A US federal judge allowed Dolce & Gabbana USA to escape a class-action lawsuit over an NFT project launched by its Italian parent company.
The US arm of Dolce & Gabbana has escaped a proposed class-action lawsuit over its parent company’s alleged abandonment of a non-fungible token (NFT) project.
In an order on Friday, New York federal court judge Naomi Reice Buchwald sided with Dolce & Gabbana USA Inc., dismissing the lawsuit because it wasn’t an “alter ego” of its Italy-based parent, Dolce & Gabbana SRL.
A group of NFT buyers claimed in a lawsuit filed in May 2024 and updated in September that Dolce & Gabbana and its US arm “are effectively the same company” that failed to deliver on its “DGFamily” NFT project launched in 2022 and kept over $25 million from it.
