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Irl

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SoftBank files lawsuit against IRL for alleged fraud and financial deception
technology2 years ago

SoftBank files lawsuit against IRL for alleged fraud and financial deception

SoftBank is suing social app IRL for fraud, alleging $150 million in damages. SoftBank had invested in IRL based on the app's impressive user numbers, but an internal investigation revealed that 95% of the app's users were fake. SoftBank claims that IRL had manipulated its user data with bots and had paid a secret firm to cover up the scheme. IRL is also being investigated by the SEC for potential violations of security laws.