NEW YORK, April 22, 2025 -- Hoppin Grinsell LLP and Burwick Law have filed a securities class action in the U.S. District Court for the Southern District of New York on behalf of all persons and entities that purchased M3M3 Tokens ($M3M3) on or after December 4, 2024. The complaint names as defendants Meteora, its co-founder Benjamin Chow, Kelsier Labs LLC (d/b/a Kelsier Ventures), and Kelsier principals Hayden Davis, Gideon Davis, and Charles Thomas Davis. The case is VOGT v. Meteora, No. 1:25-cv-03268 (S.D. NY.)
The lawsuit alleges that defendants secretly acquired approximately 95% of the $M3M3 token supply during the launch window, artificially inflated the price, and then sold to the public without disclosing the scheme. It further alleges that $M3M3 is a security and no registration statement was filed with the U.S. Securities and Exchange Commission.
Federal claims are asserted under Sections 5, 12(a)(1), and 15 of the Securities Act of 1933, and Sections 10(b) and 20 of the Securities Exchange Act of 1934. The complaint also includes state law claims under New York General Business Law §§ 349 and 350, as well as fraud, unjust enrichment, and negligent misrepresentation.
If you purchased $M3M3 tokens on or after December 4, 2024, you are a member of the proposed class. Under the Private Securities Litigation Reform Act of 1995, any member of the proposed class may move the court to serve as lead plaintiff no later than 60 days from the date of this notice.
A class has not yet been certified. You are not represented by counsel unless you retain one. You may also remain a passive class member and take no action at this time.
About Burwick Law
Burwick Law is a leading crypto law firm focused on investor protection and accountability in digital asset markets. Learn more at https://x.com/BurwickLaw.
About Hoppin Grinsell LLP
Hoppin Grinsell is a litigation firm focused on financial fraud, emerging technologies, and investor advocacy. Learn more at https://hoppingrinsell.com.
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