Investor Alert: Class Action Lawsuit for Midnight Hub NFT Investors

NEW YORK, Jan. 01, 2025 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a well-known law firm, has informed investors about a class action lawsuit aimed at benefiting those who purchased ROOMS non-fungible tokens ("NFTs") and Digital Nomads NFTs created by Midnight Hub.

Understanding the Class Action

This lawsuit is set to seek damages against the defendants for alleged breaches of federal securities laws. It applies to all individuals and entities that acquired ROOMS NFTs and Digital Nomads NFTs from Midnight Hub between January 15, 2023, and March 31, 2024, which defines the "Class Period." Investors who feel they may be affected or have incurred losses during this time are encouraged to participate in this case by visiting the firm's website.

Details of the Case

The filed complaint asserts that during the defined Class Period, the defendants made false or misleading statements related to their NFTs. Specifically, the complaint claims that when the defendants marketed and sold the NFTs, they had no concrete plans for developing the Midnight Hub platform's infrastructure or any associated projects. This includes plans for the Digital Nomads TV. Instead, it appears that the defendants focused solely on profiting from the optimism surrounding the project without proper intentions for its future.

Next Steps for Investors

A class action lawsuit has already commenced. Interested parties can access a copy of the complaint on the firm's website. Investors who have suffered losses in ROOMS NFTs and Digital Nomads NFTs must act quickly, as they have until January 06, 2025, to request the Court appoint them as lead plaintiff. Importantly, joining the lawsuit does not require one to serve as a lead plaintiff to be eligible for any recovery.

No Financial Risk

The firm operates on a contingency fee basis, meaning that investors do not incur any upfront costs. Only if the firm successfully recovers funds will it seek reimbursement for out-of-pocket expenses and attorney fees, typically a percentage of the overall recovery.

Why Choose Bronstein, Gewirtz & Grossman?

Bronstein, Gewirtz & Grossman, LLC is highly regarded for its representation of investors in securities fraud class actions and related cases. The firm has successfully recovered substantial amounts for investors across the country.

lawsuit, NFTs, investors