Dapper Labs, the creator of NBA Top Shot Moments NFT Collection has settled the class action lawsuit for $4 million. The company was alleged to have violated securities laws by improperly selling the digital collectibles. The money will be allocated to a settlement fund which will be made available to the use of rightful claimants. The settlement in the Friel vs. Dapper Labs case further reinforces Dapper Labs’ belief that NBA Top Shot Moments are not securities under federal law.

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