U.S. law firm Scott+Scott Attorneys at Law LLP is investigating whether certain Yuga Labs executives, directors, promoters and company insiders violated federal securities laws, Businesswire reported. In July, the Scott+Scott law firm said it was organizing a class action against Yuga Labs, accusing Yuga of misleadingly promoting Boring Ape NFT and ApeCoin as securities products with guaranteed returns. If the court finds that Boring Ape NFT and Apecoin are securities, That means Yuga Labs may not have fulfilled the necessary disclosure and registration obligations associated with issuing securities.