Rosen Law Firm Encourages NFT Purchasers to Inquire About OpenSea Securities Class Action Investigation

Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims against OpenSea resulting from allegations that OpenSea may have issued materially misleading information to the investing public.

So What: If you purchased NFTs on OpenSea you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29398 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

What is this about: On August 28, 2024, CNBC published an article entitled “OpenSea receives Wells notice from SEC, regulator says NFTs are securities.” It stated “crypto marketplace OpenSea has been added to the SEC’s list of targets, as the regulator extends its crackdown on the sector.” Further, it stated a “Wells notice is typically one of the final steps before the SEC issues formal charges. It generally lays out the framework of the regulatory argument and offers the potentially accused an opportunity to rebut the SEC’s claims. The letter, according to the OpenSea chief, alleges that the nonfungible tokens, or NFTs, sold on its platform are securities. OpenSea is a popular platform that allows users to create, sell and buy NFTs.”

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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