Meme coin HAWK team sued by investors for alleged securities violations

The team behind HAWK, a meme coin associated with internet celebrity Haliey Welch or "Hawk Tuah Girl," has been sued by investors for alleged securities violations, according to a court document. The lawsuit claims that HAWK acted like an unregistered security, attracting first-time cryptocurrency investors who then suffered "huge losses" after the token fell. The 12 plaintiffs who invested in HAWK suffered a total financial loss of $151,000 and filed a lawsuit requesting a jury trial. The indictment also claims that a wallet controlled by the Tuah Foundation collected $3 million from token transaction fees.