Nova Labs, formerly Helium Inc., claims to be building the “People’s Network”, which purports to be a global wireless internet connection. Investors were offered the ability to purchase wireless network hotspot devices. These devices were used to create the network itself and provide passive income to purchasers. Basically, you are paid dividends in HNT tokens in exchange for running your portion of the wireless network.
In reality, purchasers earned significantly less HNT tokens as dividends, in part, because the CEO and other executives secretly allocated themselves a significant portion of the available HNT token distribution. Customers that bought the hotspot devices were never able to recoup the purchase price in HNT token dividends (as promised). As a result, investors in Nova Labs are now joining together through a class action brought by law firm Scott+Scott, to seek restitution and damages from Nova Labs/Helium Inc. and other insiders.
If you purchased a Nova Labs’ wireless network hotspot device or HNT token and suffered damages, you are encouraged to reach out to Scott+Scott to learn more about your legal rights.