A number of investors in Wondermind — a mental health startup started by American pop star Selena Gomez — have sued the star, her mother Mandy Teefey and business partner Daniella Pierson, claiming they were misled about company’s business and Gomez’s involvement.
According to a complaint filed in a court in Delaware on Thursday, the trio “falsely represented” the company to two groups of investors who claim they put almost $1.2 million into the company, TMZ reported.
Founded in 2021, Wondermind’s website says it gives its audience “easy, doable ways to put your mental fitness first every day”. Gomez is listed as a co-founder while Teefey is listed as CEO; Pierson left the company in 2023 after reported disagreements with Teefey.
The three are being sued for securities fraud, common law fraud, breach of contract and other claims, with plaintiffs alleging that “for three years, while the company quietly collapsed around them, not one of its founders, officers, or directors said a word to the investors whose money was funding the collapse”.
Their lawsuit says the complainants were led to believe Wondermind had partnerships with companies such as JP Morgan along with “advertising deals, celebrity cover stories, and a groundbreaking app”.
