Story perspectives

Investors Sue Selena Gomez’s Wondermind for $1.2 Million Losses

8/14/2026

Summary

Story summary

On August 13 2026, Selena Gomez, Mandy Teefey and co-founder Daniella Pierson were sued in Delaware federal court.
Five investors say they invested nearly $1.2 million in Wondermind Global, launched in 2021.
Gomez ignored a promotion contract while the company claimed a $95 million valuation and partnerships that never materialized.
Plaintiffs allege that Wondermind failed to pay staff, collapsed without notice, and they are owed rescission and repayment of $1.2 million after a September 2025 The Cut article.

History

Historical Context

Theranos, founded by Elizabeth Holmes in 2003, attracted over $700 million and a $9 billion valuation by 2014. After journalists and scientists questioned its blood-testing claims in 2015, the U.S. Securities and Exchange Commission filed fraud charges against Holmes and former president Sunny Balwani in March 2018. The case highlighted investor over-reliance on hype during the venture-capital boom.

1 of 2

Story summary

On August 13 2026, Selena Gomez, Mandy Teefey and co-founder Daniella Pierson were sued in Delaware federal court.
Five investors say they invested nearly $1.2 million in Wondermind Global, launched in 2021.
Gomez ignored a promotion contract while the company claimed a $95 million valuation and partnerships that never materialized.
Plaintiffs allege that Wondermind failed to pay staff, collapsed without notice, and they are owed rescission and repayment of $1.2 million after a September 2025 The Cut article.

1 / 2