Nike pulled the rug out from under investors, the complaint says. The post Nike Accused of ‘Misleading’ NFT Scheme In Lawsuit appeared first on Front Office Sports.

A proposal for a class action lawsuit is accusing Nike of engaging in a "rug pull" by shutting down operations for its RTFKT NFT platform. The suit was filed Friday in a Brooklyn federal court with Australian resident Jadeep Cheema leading the group of aggrieved customers for Nike's digital sneakers.

A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year. The buyers of the digital assets accuse Nike of causing “the rug to be pulled out from under them,” and say they wouldn’t have bought its NFTs if they’d known they were “unregistered securities,” reports Reuters.