Dapper Labs reaches $4 million settlement in NBA Top Shot NFT lawsuit

Dapper Labs, the company behind NBA Top Shot and other well-known blockchain collectibles, has reached a settlement with disgruntled customers in a years-long class-action lawsuit alleging that Top Shot NFTs were illegally offered securities. Dapper Labs CEO Roham Gharegozlou said as part of the settlement, Dapper Labs will pay $4 million to the lawsuit plaintiffs. The funds will include monetary relief for the plaintiffs' claims and payment for legal fees. In return, if the settlement is approved, the plaintiffs will waive any future claims to Top Shot NFTs being securities.