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.