Selena Gomez sued for fraud by investors in mental health startup
JPM JPMorgan Chase & Co
$363.11 -0.57%
View chart & analysis → - 1Pop star Selena Gomez has been sued for fraud by five investors in connection with Wondermind Global, a mental health startup that collapsed last year.
- 2According to the lawsuit, the company raised $5 million at a $95 million valuation in 2022, but the app was never developed and there were no promised products or revenue.
- 3The investors allege that Gomez's promotion through her social media following of more than 500 million and partnerships with JPMorgan and Fidelity were false, and are demanding the return of their investment.
This 3-line summary is compiled from the report below.
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