Are token rebranding legal?

Hi,
I own more than 2000 tokens, some of them sometimes "rebrand".
meaning they issue a new token and let you something like 2 weeks to swap your old tokens.
it seems to me to be a way to destroy tokens from inactive holders.
They could just have made a snapshot of every holder and then airdropped the new token to them.
is that legal?
Imagine if apple decided to rebrand its stock to something else and let only 2 weeks to people to exchange them.
Granted all media would have talked about it, but in this case you only get a telegram message.
Since all blockchain transaction are recorded forever do you think those who did 'token rebranding' could face problem later?
Thanks.
submitted by /u/dying_animal
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