By Elise Hansen (November 17, 2021, 4:51 PM EST) — Blockchain company Constellation Network cheated investors by deliberately making it difficult for token holders to switch to its new token and by continuing to promote the defunct ones, a proposed class of investors has told a California federal court.
Bradley Morgan and other token buyers lodged their complaint Tuesday, accusing the California-headquartered company and its executives of deliberately cutting out many of its early investors from a token swap. Constellation — which markets technology that allows enterprises to conduct their business on blockchain — initially issued a token known as an ERC-20 DAG token, then moved to a so-called Mainnet DAG…
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