$Ethereum Co-Founder Vaporised Employee Stock Awards, Lawsuit Says

According to a Bloomberg report, over two dozen former Consensys employees have filed a fresh lawsuit against the firm’s founder and CEO, Joseph Lubin, accusing him of unfairly diluting employee equity shares against earlier promises. Specifically, the lawsuit states Lubin left workers with worthless shares in a Swiss holding company called Consensys AG by shuffling assets including crypto wallet provider MetaMask out of the unit. This reportedly breached the “no-dilution promise” made in 2015.

A Consensys spokesperson responded to the lawsuit by stating,

“After two years of getting nowhere with their frivolous claims against Consensys Mesh in a Swiss court, plaintiffs now believe their merit-less claims stand a better chance of yielding a payday if they game US courts and entangle Consensys Software and other unrelated parties in litigation. [The ex-workers] will soon find this gambit is another fruitless attempt to enrich themselves from the success of others.”
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