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SEC Targets Nova Labs for Alleged False Claims About Helium Partnerships
SEC Targets Nova Labs for Alleged False Claims About Helium Partnerships
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The SEC has filed a lawsuit against Nova Labs, accusing the company of making deceptive claims about its partnerships with major corporations such as Salesforce, Lime, and Nestlé. The allegations focus on Nova Labs' 'Hotspot' devices, which mine the Helium cryptocurrency and support a program called 'Discovery Mapping,' allowing users to exchange personal data for cryptocurrency rewards. The SEC asserts that Nova Labs misled potential investors by falsely stating that well-known companies were actively using its wireless network.
