Investors sue Selena Gomez and mother for fraud over $1.2 million Wondermind investment

Five investors sued Selena Gomez, her mother Mandy Teefey, and former executive Danielle Pierson in federal court on August 13, alleging fraud. The plaintiffs — Brent Saunders, Marc Roberts, EJ Solimine, Andrew Resnick, and Mark Peikin — say they were induced to invest $1.2 million in mental health startup Wondermind in 2022 based on false promises about Gomez's involvement. Teefey denied mismanagement allegations in a prior statement to The Cut. The lawsuit was obtained by Billboard.