Solana Labs, Multicoin Accused of Violating Securities Law by SOL Investor
Solana Labs filed a Form D with the U.S. Securities and Exchange Commission (SEC) (a filing saying the sale was of securities exempt from SEC registration), noting the company was selling “the future rights” to around 80 million SOL, according to the filing.
Multicoin, a major crypto venture capital firm that has invested heavily across the Solana ecosystem, “offloaded millions of dollars of SOL” onto retail after “relentlessly” promoting the token in spite of Solana blockchain’s tech issues, the suit alleged. This alleged offload passed through FalconX OTC desks, the suit said.
Young’s law firm Roche Freedman also recently filed suit against Binance.US for allegedly misleading investors during the Terra implosion. A lawyer for Roche Freedman did not pick up the phone.