SoftBank files lawsuit against IRL for alleged fraud and financial deception

SoftBank is suing social app IRL for fraud, alleging $150 million in damages. SoftBank had invested in IRL based on the app's impressive user numbers, but an internal investigation revealed that 95% of the app's users were fake. SoftBank claims that IRL had manipulated its user data with bots and had paid a secret firm to cover up the scheme. IRL is also being investigated by the SEC for potential violations of security laws.