**News Flash: OpenSea Faces Class-Action Suit Over Unregistered NFTs**

Two OpenSea users, Anthony Shnayderman and Itai Bronshtein, have filed a class-action lawsuit against the NFT marketplace, claiming it sells unregistered securities. Filed on Sept. 19 in a Florida federal court, the suit alleges that NFTs purchased on OpenSea, including those from the Bored Ape Yacht Club collection, are worthless due to their illegal nature.

The plaintiffs argue that a Wells notice from the SEC suggests OpenSea may be liable for facilitating unregistered securities. They point to successful SEC actions against other NFT projects as precedent.

The lawsuit claims OpenSea misled users by listing NFTs as moderated and lawful, breaching user warranties and unjustly enriching itself through fees from unregistered securities sales. Shnayderman and Bronshtein's counsel, Adam Moskowitz, emphasized the need for a well-regulated environment for NFT sales.

OpenSea has yet to comment on the lawsuit.