Several investors have sued pop star Selena Gomez and her mental health startup Wondermind, alleging they were misled about the company’s financial health and Gomez’s involvement.
According to BBC, five investors claim they invested $1.2 million in Wondermind in 2022, expecting Gomez to use her star power and social media reach to help grow the company. They allege that the company later collapsed without investors being informed.
Wondermind launched in 2021, with Gomez listed as a co-founder, chief impact officer and head of marketing. The investors claim they were led to believe the company had a $95 million valuation and would secure partnerships, advertising deals and a new app. They allege none of these materialised.
The lawsuit also names Gomez’s mother, Mandy Teefey, and former business partner Daniella Pierson. The plaintiffs are seeking their investments, damages and legal fees.
Pierson denied the allegations, saying she would provide financial records to establish the facts. Gomez, Teefey and Wondermind did not immediately comment.
