The US Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the creator of Helium Network, alleging that it sold unregistered securities and misled investors about partnerships. The lawsuit focuses on three Helium-related tokens and seeks monetary penalties and a ban on Nova Labs from dealing with securities. The SEC claims that Nova Labs overstated partnerships with major companies including Nestlé, Lime, and Salesforce, and alleges that these companies were not actually customers or users of the Helium network. Nova Labs executives are accused of knowingly exaggerating these partnerships, and founder Amir Haleem has called the lawsuit "the last gasp of a failed crusade against crypto companies in the U.S." Haleem emphasized Helium's position and vowed to fight the SEC's claims, stating that if Helium hotspots are considered securities, it puts all decentralized physical infrastructure networks in danger.



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