ICYMI: Class action lawsuit accuses Uniswap Labs, its investors of allowing fraudulent activity on the DEX protocol
A new class-action lawsuit from a Uniswap user alleges that Uniswap Labs and its investors are culpable for her losses due to a failure to comply with securities laws.
Plaintiff Risley claims the tokens traded on Uniswap constitute unregistered securities, and Uniswap Labs' failure to register with the SEC as a broker-dealer and comply with securities laws put investors at risk. Risley argues that had she had access to disclosures consistent with securities laws, she and other investors may have avoided some fallout in markets around tokens including EthereumMax, Bezoge Earth, Matrix Samurai, Alphawolf Finance, Rocket Bunny and BoomBaby.io.
With Uniswap Labs, the complaint also names Uniswap founder Hayden Adams, and backers Paradigm, AH Capital Management, Andreessen Horowitz and Union Square Ventures.
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