dfpzrc retweetledi
Federal Class Action Lawsuit Against Opera Event, Community First Games, and Individual Founders on Behalf of Communi3 and Rifters NFT Purchasers Filed
Burwick Law has filed a class action lawsuit on behalf of Plaintiff Alex Orea in the United States District Court for the Southern District of New York against Opera Event, Inc., Community First Games, Brandon Byrne, Andrew Ringlein, Erik Bryant, Eddie Tsaio, and Matt Espinoza. The complaint alleges violations of California's Unfair Competition Law, California's False Advertising Law, and unjust enrichment. The lawsuit seeks restitution, disgorgement, and injunctive relief on behalf of a nationwide class.
According to the complaint, Defendants marketed Communi3 as a thriving enterprise software platform serving blue-chip clients including The Sandbox, Yield Guild Games, and Magic Eden, while selling a series of non-fungible token collections on the Solana blockchain tied to promises of a forthcoming cryptocurrency token called $SCI. The complaint alleges that Defendants told Mad Scientist NFT holders that ten percent of the $SCI token supply would be airdropped to them and projected a fully diluted market capitalization of $250 million to $500 million, with per-token prices of $0.25 to $0.50. The complaint further alleges that Defendants promised the $SCI token launch for Q3 2022, then December 2022, then Q1 2023, and that each successive promise served to keep investors from selling while Defendants continued collecting proceeds. The $SCI token was never launched and no airdrop was ever distributed.
The Communi3 platform launched in approximately 2021 as a pivot from Opera Event's original esports-focused software business. Defendants launched multiple NFT collections on the Solana blockchain between April 2022 and late 2023: Communi3: Laboratories (100 NFTs at approximately $100,000 each), Communi3: Mad Scientists (5,001 NFTs at 2 SOL each), Adorable Assistants, and Rifters: Exiles (7,037 NFTs at 10 SOL each). The complaint alleges that Defendants raised conservatively $6.5 million to $8 million or more in direct NFT mint proceeds. The complaint further alleges that Defendants promoted the project at NFT NYC 2022 in New York City, hosting an exclusive investor event and using the industry's flagship conference to reinforce the same representations they were disseminating through Discord, Twitter, and Medium. According to the complaint, in a June 2023 Discord exchange, Defendant Ringlein stated in substance that any investors who sued would be unable to recover against him because the Rifters entity had been organized in Panama and he was effectively judgment-proof. By early 2023, platform activity had ceased, the $SCI token had not launched, and the digital assets became effectively worthless.
Burwick Law is a crypto litigation firm representing over 4,000 clients nationwide in digital asset fraud, token loss, and memecoin class action matters. The firm is founded and led by Max Burwick, a U.S. Navy veteran and rescue swimmer. Burwick Law currently serves as lead counsel in several of the highest-profile crypto lawsuits in the country, including the Hawk Tuah meme coin case and a RICO lawsuit against Solana, memecoin launchpad Pumpfun, and their respective officers alleging they operated as an unregistered securities platform and illegal casino.
Burwick Law 1 World Trade Center, 84th Floor New York, NY 10007 BurwickDotLaw 646.762.1080
ATTORNEY ADVERTISING. Prior results do not guarantee a similar outcome. The allegations described above are allegations only and have not been proven in court. This communication is informational and does not constitute legal or investment advice.
English
