CaaStle, a struggling fashion startup, is embroiled in multiple lawsuits alleging financial misconduct and fraud. Lawsuits have been filed by P180, an investment vehicle launched using CaaStle's technology, claiming it was misled into raising capital with promises of viable assets. P180 claims damages over $58 million and seeks to sever ties with CaaStle. Separately, EXP Topco alleges breach of settlement regarding unpaid fines linked to copyright infringement. Additionally, there are talks of a potential class-action lawsuit connected to CaaStle's financial troubles, raising concerns about investor trust.
The P180 suit alleges, 'Nothing about CaaStle was true.' The lawsuit claims that CaaStle tried to hide details of its income and financial stability from P180.
P180 has been harmed in excess of $58 million and seeks recovery of those proceeds, rescission of contract, and unwinding of corporate ties between itself and CaaStle.
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