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Haliey Welch speaks out following a class action lawsuit filed by Burwick Law.
Haliey Welch, widely recognized online as ‘Hawk Tuah Girl,’ has addressed the recent class-action lawsuit filed over the rapid collapse of her $HAWK cryptocurrency.
Welch’s statement comes after Burwick Law filed the lawsuit on December 19, which concerns the dramatic crash of her memecoin, $HAWK.
The coin launched earlier this month and initially received enthusiastic support from Welch’s fans. However, within just 20 minutes of its debut, the coin’s value dropped from an impressive $490 million to a mere $41 million.
The drastic decline triggered a wave of anger from Welch’s fans. One person shared their frustration online, writing: “I am a huge fan of Hawk Tuah, but you took my life savings. I purchased your coin $HAWK, which you were so excited about, with my life savings and my children’s college education fund as well.”
In her initial response to the backlash on December 6, Welch tried to defend the coin’s launch. She shared a message with her followers on Twitter, which read: “Hawkanomics: Team hasn’t sold one token and not 1 KOL was given 1 free token. We tried to stop snipers as best we could through high fees in the start of launch on @MeteoraAG. Fees have now been dropped.”
After remaining silent for two weeks, investors who lost money in the coin’s collapse decided to take legal action. A document filed on behalf of the affected investors explained that the lawsuit “arises from the unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin, known as the ‘$HAWK’ token, which Defendants offered and sold to the public without proper registration.”
Although Welch is not directly named in the lawsuit, the filing alleges that her social media presence played a key role in promoting the coin. The lawsuit names other defendants, including Tuah The Moon Foundation, which managed the memecoin’s finances; OverHere Ltd., the company responsible for creating the coin; Clinton So, an executive at OverHere; and Alex Larson Schultz, who was the promoter of the coin.
Welch addressed the lawsuit in a response on Twitter. She expressed her concern over the situation and sought to reassure her followers and those impacted by the cryptocurrency’s collapse. Welch wrote: “I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community.”
“I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter. If you have experienced losses related to this, please contact Burwick Law using the link below: https://www.burwick.law/newclient.”
