Woofun AI reports that the US District Court for the Eastern District of New York accepted a class-action lawsuit against MagicEden on June 16. Plaintiffs allege that MagicEden and its senior management made false statements regarding the ME token, describing it as a "pillar of the growing online asset market" while failing to deliver on these claims, which caused significant financial losses for investors. The defendants include co-founders Jack Lu, Zhuoxun Yin, Sidney Zhang, and Zhuojie Zhou, along with Euclid Labs Inc. and the ME Foundation.