M3M3 Token Investors Sue Meteora Over Alleged $69M Fraud Amid METIS Market Turbulence

[TRADE_PLUGIN]METISUSDT,METISUSDT[/TRADE_PLUGIN] METIS News - Investors have filed a class-action lawsuit against decentralized finance protocol Meteora, accusing it and venture capital firm Kelsier Labs—along with four current or former executives—of manipulating the launch and market price of the M3M3 token. The amended complaint, filed in the U.S. District Court for the Southern District of New York, alleges fraud and securities fraud, claiming key details surrounding the December 2024 launch were intentionally misrepresented to enrich the defendants. The lawsuit, led by Burwick Law and Hoppin Grinsell, seeks justice for affected investors. The M3M3 token launched during a DeFi boom but later faced regulatory scrutiny and volatility. Meteora, once marketed as a transparent platform, now faces legal action that could expose broader DeFi industry risks.