BlockBeats reported that on October 10, DL News reported that a few weeks after reaching a settlement with the U.S. Securities and Exchange Commission (SEC), Mango Labs (the developer of the Mango Markets protocol) filed its own legal lawsuit.

The lawsuit, filed in Puerto Rico on Oct. 7, accuses senior Mango DAO contributors John Kramer and Max Schneider of misappropriating more than $10 million in DAO funds to the detriment of other members.

“Defendants secretly purchased MNGO tokens from FTX, manipulated the MNGO market to artificially increase the price of its tokens, and resold those tokens to Mango DAO in breach of their fiduciary duties,” the lawsuit states.

Kramer and Schneider have denied any wrongdoing.