I'm not saying anything is going to happen, ARM holdings has a lot more money and lawyers than Long Blockchain did, but I'm just saying that it's not weird to think that a deceptive name could be considered false advertising.
This isn't just a crass joke or a pun, it's outright deception. I'm not a lawyer, maybe it wouldn't hold up in court, but you cannot convince me that they aren't doing this on purpose.