The lawsuit, alleges that the Cayman Island-based sellers, as well as the promoters, behind the “$HAWK Token” used Welch’s fame to falsely promote the meme coin as a registered security. Welch had eagerly plugged the meme coin’s launch on her podcast and to her 2.6 million Instagram followers. Quote taken from: NY Post
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The complaint filed in New York on Thursday accuses Tuah The Moon Foundation; overHere Ltd and founder Clinton So; and influencer Alex Larson Schulz, known as "Doc Hollywood," of illegally selling and promoting the coin, which was allegedly not a registered security, according to The New York Post.
Alex Larson Schulz, known as "Doc Hollywood is also the son-in-law of Howie Mandel, acted as a crypto mentor to Welch and pushed for the launch of the meme coin. According to Mashable, Schulz “controlled all token decisions, fees, treasury