Solana DEX Meteora faces a class action lawsuit in New York, accused of colluding with other parties to manipulate the M3M3 meme coin launch, causing $69 million in investor losses. The lawsuit claims 150 insider wallets controlled 95% of the token supply within 20 minutes. Benjamin Chow, also linked to the LIBRA scandal in Argentina, is involved. M3M3 has dropped over 98% from its peak. Meteora and its affiliates are accused of fraud and violating federal securities laws.