Former Theta Labs Executives File Lawsuit Alleging Fraud and Market Manipulation

According to Foresight News, former Theta Labs executives Jerry Kowal and Andrea Berry have filed a lawsuit in California against the company's CEO, Mitch Liu. The lawsuit accuses Liu of engaging in fraudulent activities, token market manipulation, and retaliating against employees who reported misconduct. The plaintiffs claim that Liu used Theta Labs as a personal trading tool, allegedly inflating the price of THETA tokens through misleading partnerships, undisclosed internal token sales, and manipulation of the NFT market.