A bitter legal battle has erupted with 27 early employees of ConsenSys AG accusing founder Joseph Lubin of robbing them of potentially billions in equity when he relocated the company to the US.
Keypoints
- 27 early employees of ConsenSys AG in Switzerland filed a lawsuit against founder Joseph Lubin in New York.
- They allege Lubin deprived them of equity after transferring core assets from the Swiss entity to a new US-based ConsenSys Software Inc.
- Lubin allegedly moved assets like MetaMask to the US firm in 2020 without bringing over the employees as shareholders.
- The employees claim Lubin broke commitments that they would get equity in ConsenSys for taking early risk with lower salaries.
- Lubin emerged with 52.5% of the new US firm while most early employees got no equity, according to filing.
- Lubin has not yet responded to the lawsuit brought by the Swiss company’s early employees.
- The legal battle follows the…
