Iggy Azalea Hit with Class Action Lawsuit

Iggy Azalea is facing legal heat after investors filed a class action lawsuit tied to her meme coin, MOTHER, which has reportedly lost nearly all of its value.

The lawsuit, filed in New York federal court, accuses Azalea of misleading investors by promoting real-world uses for the coin that allegedly never happened. According to the filing, buyers were led to believe MOTHER would be integrated into multiple business ventures tied to the rapper, including an online casino, mobile services, and a luxury shopping platform.

The problem?

Investors claim those promises either never materialized or weren’t actually connected to the coin the way they were advertised.

At one point, Azalea heavily promoted MOTHER across social media, pushing it as more than just another celebrity-backed crypto play. The coin even became tied to projects like “Motherland,” an online casino, and DreamVault, a luxury marketplace that allegedly promised discounts and exclusive access through MOTHER.

Now, the coin’s value has reportedly crashed by more than 99%, falling from a high of 24 cents to a fraction of one.

The lawsuit argues this isn’t about normal crypto volatility, it’s about marketing. Attorneys representing the investors claim people were encouraged to hold onto the coin based on promises of future utility that never fully came together.

The case is also drawing attention because the law firm behind it previously handled the viral “Hawk Tuah” meme coin lawsuit.

As of now, Azalea hasn’t publicly responded to the filing.