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Wu Shuo has learned that the crypto law firm Burwick Law has filed a class-action lawsuit in the Southern District of New York (SDNY) against the AI16Z and ElizaOS project teams, accusing them of misleading investors and manipulating token prices.
The lawsuit states that the defendants enhanced the project's credibility through collaboration with Stanford University, publishing papers, media publicity, and fundraising activities, but the related AI investment system was actually operated manually, and the project did not generate any income during the relevant period.
Additionally, the lawsuit mentions that after rebranding as ElizaOS, the project team conducted token migration and expanded the supply, with approximately 40% of the new tokens allocated to insiders.