US judge dismisses NFT lawsuit against Dolce & Gabbana's US subsidiary

PANews reported on July 14 that according to Decrypt, U.S. federal judge Naomi Reice Buchwald dismissed a class action lawsuit against Dolce & Gabbana's U.S. subsidiary (D&G USA). The lawsuit claimed that its Italian parent company used the "DGFamily" NFT project to defraud, using the gimmick of providing digital/physical luxury goods and offline event rights, raising more than 25 million US dollars in eight phases, but terminated operations after completing two phases of delivery. However, the judge believes that although D&G USA shares the brand logo and some executives with its parent company, the plaintiff's evidence shows that the smart contract deployment, marketing decisions and rights realization of the NFT project are all independently operated by the Italian team. The U.S. subsidiary only provides routine local compliance support and does not meet the "substantial control" standard of New York State law, so it cannot be held jointly liable.