What investors say went wrong at Selena Gomez's mental health startup Wondermind
Several Wondermind investors have filed a lawsuit against the company and its founders, including Selena Gomez.Gomez cofounded the startup with her mother, Mandy Teefey, and Daniella Pierson.A lawyer for Gomez called the allegations "completely meritless."Selena Gomez set out to create "the world's first mental fitness ecosystem." Instead, the startup is becoming her own personal headache.A federal lawsuit filed Thursday offers a detailed account of what investors say went wrong at Wondermind — from an app that was never built to major corporate partnerships they allege never existed.Gomez launched the startup in 2021 alongside her mother, Mandy Teefey, and Daniella Pierson, a business partner. The lawsuit accuses Gomez, her cofounders, and Wondermind of defrauding investors, among other claims.The investors include Brent Saunders, the CEO of Bausch + Lomb and former CEO of Allergan, and entrepreneur and real-estate investor Marc Roberts."The Plaintiffs invested nearly $1.2 million in Wondermind Global Inc.
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Several Wondermind investors have filed a lawsuit against the company and its founders, including Selena Gomez.Gomez cofounded the startup with her mother, Mandy Teefey, and Daniella Pierson.A lawyer for Gomez called the allegations "completely meritless."Selena Gomez set out to create "the world's first mental fitness ecosystem." Instead, the startup is becoming her own personal headache.A federal lawsuit filed Thursday offers a detailed account of what investors say went wrong at Wondermind — from an app that was never built to major corporate partnerships they allege never existed.Gomez launched the startup in 2021 alongside her mother, Mandy Teefey, and Daniella Pierson, a business partner. The lawsuit accuses Gomez, her cofounders, and Wondermind of defrauding investors, among other claims.The investors include Brent Saunders, the CEO of Bausch + Lomb and former CEO of Allergan, and entrepreneur and real-estate investor Marc Roberts."The Plaintiffs invested nearly $1.2 million in Wondermind Global Inc. because the Defendants falsely represented that the Company had the infrastructure, leadership, and resources necessary for the Company to launch into a profitable, one-of-its-kind mental health and wellness platform," the complaint says.The investors said Wondermind's cofounders also misrepresented key parts of the company's business and growth plans. Specifically, that Gomez — a world-famous actor and singer — would play a major role at the company as its head of marketing; that Pierson secured partnerships with firms such as JPMorgan and Fidelity; and that "revenue-generating initiatives" were already underway.The investors are seeking the return of their investments or damages, as well as costs and attorneys' fees."The partnerships did not exist.
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Why it matters
2 outlets are covering this world story — one to watch as reporting develops.
- What's the story?
- Several Wondermind investors have filed a lawsuit against the company and its founders, including Selena Gomez.Gomez cofounded the startup with her mother, Mandy Teefey, and Daniella Pierson.A lawyer for Gomez called the allegations "completely meritless."Selena Gomez set out to create "the world's first mental fitness ecosystem." Instead, the startup is becoming her own personal headache.A federal lawsuit filed Thursday offers a detailed account of what investors say went wrong at Wondermind — from an app that was never built to major corporate partnerships they allege never existed.Gomez launched the startup in 2021 alongside her mother, Mandy Teefey, and Daniella Pierson, a business partner. The lawsuit accuses Gomez, her cofounders, and Wondermind of defrauding investors, among other claims.The investors include Brent Saunders, the CEO of Bausch + Lomb and former CEO of Allergan, and entrepreneur and real-estate investor Marc Roberts."The Plaintiffs invested nearly $1.2 million in Wondermind Global Inc.
- How widely is it covered?
- 2 outlets, average source rating 6.0/10.
- When was it last updated?
- 15m ago.
How outlets are framing the same story
Here's how each outlet is covering the story — compare their headlines and timing at a glance.
- Coverage card2 outlets1CoverageScouting report
Selena Gomez Slams ‘Completely Meritless’ Wondermind Lawsuit, Will File to Dismiss ‘Baseless Claims’
Sources2TypeCoverageBusiness Insider
Variety