Overview
- Two investor entities filed a federal securities fraud and breach‑of‑contract suit in Delaware on Aug. 13, 2026 asking the court to cancel their investments and award damages.
- The complaint says Wondermind founders claimed the company had leadership, advertising deals and a mobile app ready to scale when those initiatives never materialized.
- Investors allege they were told Selena Gomez would serve as head of marketing and actively promote the venture but that she pulled back and did not fulfill the promised role.
- The filing cites prior reporting from Forbes and The Cut that detailed internal turmoil, missed payroll, staff departures and disputed executive claims that plaintiffs say they were not told about.
- Defendants have denied or disputed allegations in media coverage and said they will produce records to rebut claims, and no trial date has been set as the case develops in federal court.