SEC v. Uulala

The SEC sues Uulala, Inc. and its founders for conducting a fraudulent and unregistered offering of UULA tokens. The SEC alleges that the defendants made materially false and misleading statements about their technology, including claims of “patent pending” status and a proprietary algorithm for assign credit scores, which did not exist.

This case reaffirms the SEC’s authority to classify and regulate digital assets, such as the UULA tokens, as securities.

5:21-cv-01307