Bragar Eagel & Squire, P.C., a recognized stockholder rights law firm has announced a class action lawsuit against Terraform labs.
The complaint alleges that Terrraform has encroached provision of the Exchange Act.
They are accused of carrying out a plan, scheme, and course of conduct that TFL intended to and did deceive retail investors.
This caused Bragar Eagel & Squire to purchase Terra Tokens at artificially inflated prices and approve false statements.
The complaint also alleges that the TerraLabs violated California Common Law by possessing the monetary value of Terra Tokens at inflated value that belongs to the Plaintiff and members of the class.
Finally, the complaint alleges that all accused violated provision of the Racketeer Influenced and Corrupt Organizations Act (“RICO”).
Last week Terra’s Co- founder’s house was also raided regarding one of the ongoing lawsuits.