Home

Friel v. Dapper Labs, Inc., et al., Case No. 1:21-cv-05837-VM

The Settlement Fairness Hearing that was originally scheduled for Friday, September 27, 2024 has been postponed. It will now take place on Friday, October 25, 2024. A copy of the Court’s order may be downloaded here.

If you purchased or acquired NBA Top Shot Moments (“Moments”) from June 15, 2020 to December 27, 2021, both dates inclusive (“Settlement Class Period”), you could get a payment from a class action settlement (the “Settlement”).

Under law, a federal court has authorized the Notice.  This is not attorney advertising.

• If approved by the Court, the Settlement will provide four million dollars ($4,000,000) (the “Settlement Fund”) gross, plus interest as it accrues, minus attorneys’ fees, costs, administrative expenses, and net of any taxes on interest, to pay claims of those who purchased or acquired Moments during the Settlement Class Period. The Settlement also provides that Dapper Labs, Inc. (“Dapper” or the “Company”) will adopt or will continue Business Changes that address allegations in the Complaint and the Court’s motion to dismiss order entered on February 22, 2023.
  
• The Settlement represents an estimated average recovery of $0.12 per Moment for the approximately 33,037,779 Moments purchased or otherwise acquired during the Settlement Class Period. This is not an estimate of the actual recovery per Moment you should expect. Your actual recovery, if any, will depend on the aggregate losses of all Settlement Class Members, the date(s) you purchased and acquired Moments, the purchase and sales prices, and the total number and amount of claims filed. 
  
• Lead Counsel will ask the Court to award attorneys’ fees in an amount not to exceed one-third of the Settlement Fund ($1,333,333.33), reimbursement of no more than $40,000 in litigation expenses, and a total case contribution award to Plaintiffs in total not to exceed $20,000. Collectively, the attorneys’ fees and expenses and Plaintiffs’ award are estimated not to exceed an average of $0.04 per Moment purchased or acquired during the Settlement Class Period. If approved by the Court, these amounts will be paid from the Settlement Fund. 
  
• The average approximate recovery, after deduction of attorneys’ fees and expenses approved by the Court, is $0.08 per Moment purchased or acquired during the Settlement Class Period. This estimate is based on the assumptions set forth in the preceding paragraphs. This is not an estimate of the actual recovery per Moment you should expect. Your actual recovery, if any, will depend on the aggregate losses of all Settlement Class Members, the date(s) you purchased or acquired Moments, the purchase and sale prices, and the total number and amount of claims filed. 
  
• The Settlement resolves the Action concerning whether Defendants violated the federal securities laws by promoting, offering, and selling unregistered securities to investors in the form of Moments which are non-fungible tokens (“NFTs”). Defendants have denied and continue to deny all allegations of wrongdoing, fault, liability or damage. Defendants have also denied, among other things, the allegations that Plaintiffs or the Settlement Class have suffered damages or that Plaintiffs or the Settlement Class were harmed by the conduct alleged in the Action. Defendants continue to believe the claims asserted against it in the Action are without merit.
  
• Your legal rights will be affected whether you act or do not act. If you do not act, you may permanently forfeit your right to any recovery. Therefore, you should read the Notice carefully. The notice is intended to provide you with a Summary of the Settlement. For a full description of the Settlement, you may review it on this website.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

INQUIRIES

Please do not contact the Court regarding the Notice. All inquiries concerning the Notice, the Proof of Claim and Release Form, or the Settlement should be directed to: