Entertainment · The Record
Investors sue Selena Gomez, her mother and Daniella Pierson over $1.2 million Wondermind claims
USA TODAY reported the filing alleges misrepresentations in Delaware federal court. Pierson denies the claims, while the complaint quotes Teefey's account.
Two investor entities filed a lawsuit in Delaware federal court on Thursday, Aug. 13, naming actress Selena Gomez, her mother Mandy Teefey and former business partner Daniella Pierson, USA TODAY reported. USA TODAY said the complaint asserts multiple counts of fraud and breach of contract, citing documents it obtained.
The plaintiffs, Wondermind SRS 44 and Bespoke Wondermind SPV, said they invested nearly $1.2 million in 2022, according to USA TODAY. USA TODAY said the investment was in Wondermind Global. Forbes described Pierson as a co-founder of Wondermind with Gomez and Teefey.
USA TODAY reported the complaint says the investors acted after Gomez, Teefey and Pierson allegedly made false statements about the company's infrastructure, leadership and resources. The complaint also said promised partnerships did not exist, initiatives did not materialize and the app was not built. It alleges the company failed for three years without any founder, officer or director telling the investors whose money was at issue.
A representative for Pierson said Pierson denies the allegations and said she did not use investor funds for personal expenses, USA TODAY reported. USA TODAY also said the complaint quotes Teefey as telling the plaintiffs that Pierson had improperly used investor funds.
Analysis: The statement from Pierson's representative and the complaint account attributed to Teefey point in opposite directions. The reported filing does not resolve that conflict; it places both versions in front of a court.
Forbes reported Wondermind had a $100 million value after raising $5 million from a venture fund led by Serena Williams. USA TODAY reported the complaint separately alleges investors were told Pierson was a "$200 million executive" with secured partnerships and that revenue initiatives were already planned.
USA TODAY reported Teefey allegedly told investors in April that an escrow account existed to repay them, but the account did not exist.
The investors requested a jury trial and asked for return of their investment, damages, costs and attorneys' fees, USA TODAY reported.