Over 20 Former Consensys Employees Sue Founder Joseph Lubin for Stock Deprivation

According to Foresight News, over 20 former employees of MetaMask's parent company, Consensys, have filed a lawsuit against ConsenSys founder Joseph Lubin, who is also a co-founder of Ethereum, for depriving them of their stock rewards. These former employees worked at an early version of Consensys in 2014 and accepted lower salaries with the promise of receiving equity in the company. Joseph Lubin eventually distributed 30% of the holding company's shares to the employees, with the plaintiffs holding approximately 9% of the shares.In 2020, Joseph Lubin arranged to transfer these assets, including some crypto tools developed by the suing software engineers and product designers, to a new US company, rendering the shares held by some of his earliest employees nearly worthless. The lawsuit claims that the current version of Consensys has raised at least $726.7 million from investors, with a valuation exceeding $7 billion.