The lawsuit accuses the company, Gomez, her mother and a former business partner of, among other things, securities fraud and breach of contract, CNN writes.
Five investors say they invested millions in 2022, believing that Gomez would use her celebrity status to build the company - which was then valued at $95 million (upwards of SEK 1 billion) - but that this did not happen.
The investors are now demanding their money back as well as damages and compensation for legal costs.
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