Game of Silks Inc., a horse-racing-themed non-fungible token platform, and its officers are facing accusations of selling unregistered securities to investors and misleading them about the project’s viability in the U.S. District Court for the Southern District of Florida.

Lead counsel, Max Burwick, the managing partner at Burwick Law, and attorneys from Wolf Popper, represent the plaintiffs, Cary Cantner and the prospective class. The lawsuit follows the U.S. Securities and Exchange Commission’s decision to not pursue litigation directed by the agency’s ex-chairperson, Gary Gensler, against OpenSea for the unregistered sale of securities in connection with NFTs.