PSA, the trading card grading company also used to authenticate WWE and AEW cards, autographs and event tickets, is facing a proposed class action lawsuit accusing it of widespread fraud.
The 188-page complaint was filed July 28 in the U.S. District Court for the District of Maryland by plaintiff Nicholas Funk, who is seeking to represent a nationwide class of customers who paid PSA grading fees, according to Dexerto. The lawsuit does not name any specific wrestling cards or sets. PSA and parent company Collectors Holdings have not yet responded to the complaint, and the allegations have not been proven in court.
The lawsuit alleges PSA markets its grading process as objective, consistent and independent while actually relying on subjective “eye appeal” evaluations. It also claims PSA financially benefits when collectors resubmit cards hoping for a higher grade, since each submission generates additional fees regardless of the outcome.
Wrestling Collectibles Fall Under PSA’s Umbrella
While the lawsuit centers on PSA’s grading practices broadly, the company’s authentication services do extend into wrestling memorabilia. PSA grades vintage sets like 1954 and 1955 Parkhurst Wrestling and 1982 Wrestling All Stars, along with modern WWE and AEW releases from Topps and Panini, the same manufacturers behind programs like the WWE WrestleMania and Debut Patch Card series.
PSA/DNA also authenticates signed wrestling memorabilia, with listed pricing tiers for performers such as Stone Cold Steve Austin, Bret Hart, Andre the Giant and current stars including Roman Reigns. The company additionally grades wrestling event tickets, including full and stub tickets from WrestleMania.
Scrutiny of PSA-graded collectibles has already touched wrestling this year. WWE Superstar Logan Paul’s $16.5 million sale of his PSA 10 Pikachu Illustrator card drew backlash over fractional ownership issues, though that dispute centered on a separate marketplace platform rather than PSA’s grading itself.
Lawsuit Points To PSA’s First-Ever Certified Card
One of the complaint’s central claims involves PSA’s very first certification, a baseball card rather than a wrestling item. The suit alleges the company’s inaugural graded card, a T206 Honus Wagner, was knowingly trimmed and altered despite PSA’s own published standards stating that altered cards should not receive a grade. The complaint claims that certification has never been revoked.
Attorney Ariel Givner detailed the allegation in a post breaking down the filing.
The lawsuit also alleges PSA limits the number of Gem Mint 10 grades issued for certain cards to preserve scarcity and market value rather than grading strictly on condition, and that PSA’s ownership under Collectors Holdings, which also runs vault storage, pricing tools and marketplace services, creates undisclosed financial conflicts of interest.
The complaint brings claims including alleged violations of the federal Racketeer Influenced and Corrupt Organizations Act, fraud, negligent misrepresentation, breach of contract and violations of Maryland’s Consumer Protection Act. The plaintiff is seeking class certification, monetary damages, restitution of grading fees and changes to PSA’s business practices. The case remains in its early stages.
