Selena Gomez is disputing a lawsuit filed by investors Wondermind SRS 44 LLC and Bespoke Wondermind LLC, who accuse her, her mother Mandy Teefey, and co-founder Daniella Pierson of misrepresenting the mental health startup Wondermind, which they launched in 2021.
The suit alleges investors put in nearly $1.2 million and were kept in the dark as the company 'quietly collapsed,' with claims that touted partnerships with JP Morgan and Fidelity never existed and a promised app never materialized. It also alleges Teefey ignored a rescission notice and later claimed, incorrectly, that funds had already been returned.
Gomez's attorney called the fraud allegations 'completely meritless' and said a motion to dismiss is being filed. Pierson has separately denied using investor funds for personal expenses in a statement to the New York Times.
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