The team behind Meme HAWK has been sued by investors for suspected violations of securities laws

The team behind Meme Coin HAWK, linked to Internet celebrity Haliey Welch or "Hawk Tuah Girl", has been sued by investors for alleged violations of securities laws, according to a court filing.
HAWK acted like an unregistered security, attracting first-time cryptocurrency investors who subsequently suffered "substantial losses" after the token fell, the lawsuit alleges. The 12 plaintiffs who invested in HAWK, who suffered a total of $151,000 in financial losses, sued and asked for a jury trial. The indictment also alleges that a wallet controlled by the Tuah Foundation collected $3 million from token trading fees.