Investors sue Selena Gomez, claiming her wellness startup’s app was never built
Selena Gomez, one of the most-followed people on the planet, is being sued by investors who say her mental-health startup Wondermind was a hollow promise dressed up as a movement.
The complaint, filed against the singer and her mother and co-founder Mandy Teefey, alleges securities fraud and breach of contract. All of the claims are, for now, unproven.
The suit lands squarely on the fault line beneath the celebrity-founder gold rush, in which a famous name is stapled to a company and treated as a guarantee of substance.
Wondermind arrived in 2021 promising daily mental-health resources, riding a wave of well-funded mental-health platforms that pitched looking after your mind as something you could do as routinely as checking your email.
According to the plaintiffs, that promise never became a product. They say they invested nearly $1.2mn on the strength of commitments the company then quietly failed to keep, and, crucially,...
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