Solana Labs

Solana investors were inappropriately encouraged to buy SOL tokens. The Company did not registered the SOL token with the SEC; nor did the Company seek an exemption from registering the SOL tokens as securities. Instead, the Company and its insiders used misleading marketing and promotions to inflate the price of the SOL token by touting the growth prospects for investors. These promotions mislead investors into purchasing the SOL tokens at artificially inflated prices. Once their promotional efforts were completed, Solana and its insiders effectively “pulled the rug” on retail investors, leaving them with tokens that had lost 85% from the inflated price high in November 2021.

As a result, individual investors in SOL tokens are now joining together through a class action brought by law firm Scott+Scott, to seek restitution for losses incurred from the purchase of SOL tokens. If you suffered losses in association with the purchase of SOL tokens between March 2020 through the present you are encouraged to reach out to Scott+Scott to learn more about your legal rights.