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Three plaintiffs have filed a lawsuit against Compound DAO

Compound DAO

Three plaintiffs have filed a lawsuit against Compound DAO and seven other defendants, alleging that they suffered damages after buying unlicensed COMP tokens.

The suit, which seeks class-action status, was filed in the U.S. District Court for the Northern District of California on December 8, and lists Amanda Houghton, Susan Franklin, and Charles Douglas as plaintiffs on behalf of other COMP token holders.

Furthermore, the plaintiffs allege that the defendants made false and misleading statements about the prospect of profiting from holding COMP tokens, and claim that the price of COMP has since collapsed.

They are seeking a court declaration that COMP is a security, and are requesting that the defendants be ordered to stop selling these tokens and pay damages and legal fees.

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Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry. She is passionate about helping to foster the growth of the industry and believes in the power of blockchain technology to revolutionize the world.