Several investors in Wondermind, a mental health startup co-founded by American pop star Selena Gomez, have filed a lawsuit against Gomez, her mother Mandy Teefey and former business partner Daniella Pierson, alleging they were misled about the company’s financial condition and business operations.
According to a complaint filed in a Delaware court, two groups of investors claim they invested nearly $1.2 million after being given what they allege were false representations about the company and Gomez’s involvement.
Founded in 2021, Wondermind promotes mental fitness and lists Gomez as a co-founder and Teefey as its chief executive. Pierson left the company in 2023 following reported disagreements with Teefey.
The investors allege they were led to believe Wondermind had partnerships with major companies, advertising agreements, celebrity features and a planned app. They claim those initiatives either did not exist or were never completed.
The lawsuit further alleges that investors were not informed about the company’s financial difficulties and internal problems. They say they only became aware of the situation after a report detailed alleged mismanagement and disputes within the startup.
The plaintiffs have accused Gomez, Teefey and Pierson of securities fraud, common-law fraud and breach of contract, among other claims.
They are seeking the return of their investment, damages and legal fees.
