Joseph Lubin, Consensys sued by early employees over 2020 restructuring

Joseph Lubin, Consensys sued by early employees over 2020 restructuring
фото показано с : cryptoslate.com

2023-10-21 21:25

Ethereum (ETH) co-founder and Consensys CEO Joseph Lubin faces a lawsuit from 27 early employees who allege Lubin broke contractual agreements regarding equity shares.

According to the lawsuit, filed in the New York Supreme Court, Lubin promised employees “hub equity” in ConsenSys (as it was styled at the time), meaning shares in the central ConsenSys entity that would own the various products and subsidiaries.

This equity was offered as compensation for joining the company in its early stages at below-market salaries. Lubin stated the employees would be “joint stakeholders” and share in the potential upside of ConsenSys’s growth.

However, in August 2020, ConsenSys underwent a restructuring whereby the core assets, including MetaMask, Infura, and Codefi, were transferred to a new Delaware entity, ConsenSys Software Inc. (CSI), leaving the original Swiss entity ConsenSys AG holding less valuable assets.

Lubin emerged with a 52.5% stake in CSI, while most early employees were not offered shares. The employees allege this was a breach of contract regarding the promised “hub equity.”

The filing claims the asset transfer was executed without notice, shareholder vote, or offering employees the chance to participate. It alleges the valuation was manipulated to benefit Lubin’s personal interests.

It further claims Lubin misled employees about their position, rights, and the company’s plans. The employees are seeking damages for lost upside in ConsenSys’s growth, which they say robbed them of returns they were promised for their early risk-taking and contributions.

The complaint, filed with the New York Supreme Court, demands a jury trial and seeks “damages in amount to be determined at trial, including, but not limited to, Plaintiff’s expectation damages, disgorgment, and Plaintiff’s damages suffered as a result of Lubin’s [et. al.’s] actions; and… granting Plaintiffs such other and further relief as the Court may deem just and proper.”

Lubin has not yet filed a response to the lawsuit.

The post Joseph Lubin, Consensys sued by early employees over 2020 restructuring appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

KuCoin Shares (KCS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $9.9109
Капитализация $0 Rank 99999
Цена в час новости $ 4.5906 (-100%)

consensys lubin employees joseph early shares lawsuit

consensys lubin → Результатов: 126


ConsenSys Blockchain Company Looks to Assist Token Foundry as Crypto Bear Market Hurt Their Model

The bearish market of 2018 has been unkind to cryptocurrencies, and it does not seem like any company has gone without casualties. Joe Lubin, the co-founder of Ethereum, has been working to support his ConsenSys platform, a crypto venture studio, even as one of its budding projects has been suffering. Their Token Foundry platform has […]

2018-11-14 05:30


Joe Lubin of Ethereum, ConsenSys: Blockchain is an Economic Stimulus, Will Harvest More Wealth

Is the blockchain technology the future? Some people strongly believe that and Joe Lubin, one of the co-founders of the Ethereum blockchain and the current CEO of ConsenSys, is one of them. According to him, the world will move from scarcity to an abundance mindset because of the blockchain technology. Lubin has made these allegations […]

2018-11-13 00:15


Джо Любин: блокчейн поможет увеличить богатство

По мнению сооснователя Эфириума и гендиректора проекта ConsenSys Джо Любина (Joe Lubin), с использованием технологии блокчейна общество перейдет «от скудости ума к изобилию».   Такое заявление Любин сделал в интервью изданию New York Times (NYT) на конференции International Luxury Conference, проходящей с 12 по 13 ноября в Гонконге.

2018-11-12 14:39


Фото:

Popular Ethereum DApp Metamask to Release Mobile Client

A mobile version for MetaMask, the Chrome browser extension for accessing DApps, was revealed at the Developer Conference (Devcon) held from October 30 to November 2 in Prague.  Speaking on the release of the new mobile app, CEO of ConsenSys Joseph Lubin wrote on his twitter handle: “Everyone’s favorite Ethereum browser extension is coming to […] The post Popular Ethereum DApp Metamask to Release Mobile Client appeared first on Coinjournal.

2018-11-5 18:32


Фото:

Куда сходить? Кого послушать с 29/10 по 4/11/2018?

Siberian Blockchain Summit в Красноярске, блокчейн-интенсив от Qiwi, конференция на Мальте и другие события недели: 28-29 октября, Цюрих, Швейцария Crypto Summit 2018 Крупнейшая в Швейцарии конференция о криптовалютах объединит лидеров мнений, ведущих разработчиков, политиков, инвесторов и предпринимателей со всего мира.

2018-10-28 09:07


Создатель Ethereum ответил на обвинения от критика криптоиндустрии

По словам известного критика криптоиндустрии Нуриэля Рубини, Виталик Бутерин и глава стартапа ConsenSys Джо Любина украли 75% предложения ETH в ходе «премайнинговой аферы», и что это сделало их миллиардерами.

2018-10-15 16:18


Joseph Lubin Disagrees with Vitalik Buterin: “There’s Just So Much Growth Ahead” for Crypto

The world of crypto and blockchain technologies has not yet touched a ceiling, much less died. So thinks Joseph Lubin, Co-founder of Ethereum & Founder of ConsenSys In an interview for CNN, Joseph Lubin talked with CNN’s Julia Chatterley about the volatility of the crypto market and how it can affect the price of cryptocurrencies […] The post Joseph Lubin Disagrees with Vitalik Buterin: “There’s Just So Much Growth Ahead” for Crypto appeared first on Ethereum World News.

2018-9-12 19:41


Фото:

ConsenSys’ Joseph Lubin and Amanda Gutterman Discuss Civil Partnership at TechCrunch Disrupt

Joseph Lubin and Amanda Gutterman of ConsenSys explained how blockchain technology and media companies go hand in hand during TechCrunch Disrupt; while the latest project ConsenSys is working with, The Civil Media Company, looks to create independent newsrooms in hopes of creating high-quality local, international, investigative and policy journalism.

2018-9-8 07:00


Joseph Lubin Of Ethereum And ConsenSys: Crypto Growth Still Strong Despite Market Drop

Ethereum’s Co-Founder Joseph Lubin Believes That Drop In The Market Will Not Harm Cryptocurrency Growth Joseph Lubin, Ethereum’s Co-Founder is bullish on virtual currencies and the crypto market. He said that he does not believe that the recent drop in the price of cryptocurrencies will affect the long-term growth of the market. He commented these […]

2018-8-20 10:32


Фото:

Джозеф Любин: технология Ripple — это не блокчейн

Соучредитель Ethereum и глава блокчейн-компании ConsenSys Джозеф Любин (Joseph Lubin) в интервью Bloomberg о состоянии крипторынка и развитии Ethereum сделал ряд критических выпадов против двух крупных проектов отрасли.

2018-8-17 17:00


Фото:

Ripple ‘Isn’t Really A Blockchain’ – Ethereum Co-Founder Downplays XRP, EOS

ConsenSys found and Ethereum co-founder Joseph Lubin told mainstream media that Ripple “isn’t a Blockchain technology” August 14, confirming it “isn’t a competitor” for Ethereum. Lubin: Ripple ‘Isn’t Really A Blockchain’ Speaking to Bloomberg about the current state of the cryptocurrency market and Ethereum development, Lubin delivered an interesting take on two of the industry’s biggest names.

2018-8-16 22:00


Ethereum [ETH]’s Joseph Lubin says, ConsenSys is an accelerator for Ethereum

Joseph Lubin, the co-founder of Ethereum and Founder of ConsenSys was at the recent Ethereal Summit held in New York City, Knock Down Center, to speak about ConsenSys and their vision for the same. ConsenSys is a global formation of technologists and entrepreneurs building the infrastructure, applications, and methods that enable a decentralized world.  Joseph Lubin, Co-Founder, Ethereum […]

2018-6-20 20:28