# Nike Facing Class Action Suit Over RTFKT NFT Drop

*Author: Bankless*
*Published: Apr 28, 2025*
*Source: https://www.bankless.com/read/nike-facing-class-action-suit-over-rtfkt-nft-drop*

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Nike faces a $5M lawsuit alleging securities violations over its RTFKT NFT drop, as investors claim abandoned support devalued the NFTs.

## **What’s the Scoop?**
- **Alleged 'Soft Rug Pull'**: Plaintiffs claim Nike propped up unregistered securities tied to RTFKT NFTs, then withdrew support, devaluing the assets.
- **Legal Accusations**: The lawsuit claims consumer protection violations stemming from Nike's marketing and alleged failure to sustain the project.
- **Seeking Damages**: Investors seek $5 million in damages for the depreciation in NFT value after Nike wound down its efforts.
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