Iggy Azalea Faces Class-Action Lawsuit Over Solana Meme Coin MOTHER, Token Down 99% Since Peak

According to Decrypt, on May 6, Australian rapper Iggy Azalea faced a class-action lawsuit over her Solana meme coin MOTHER. Investors allege she overstated the token’s utility and business integrations, claiming Azalea promoted MOTHER for use in Motherland casino, Unreal Mobile phone service, and DreamVault marketplace, but these integrations failed to materialize or did not function as promised. MOTHER has plummeted over 99% from its peak of approximately $0.23. The plaintiffs seek compensation for affected investors, including statutory damages and potential treble damages. The lawsuit was filed by Burwick Law.