Creators of the SafeMoon crypto-token are facing a third class action complaint alleging they defrauded investors by artificially inflating the price of the tokens through false statements about the digital asset’s financial safety.
SafeMoon LLC also illegally sold the tokens by failing to register them as securities with the US Securities and Exchange Commission, according to the complaint filed Tuesday in the US District Court for the District of Utah.
SafeMoon, its corporate leaders, and celebrities who promoted the digital currency are facing two other class action securities fraud suits filed earlier this year in Los Angeles federal court.
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