Bitcoin mining firm Layer1 Technologies and DGF Investments Inc. are taking legal action against two of the company’s board members, Jakov Dolic and Tobias Ebel.
The Background
The CEO of Layer1 Technologies, John Harney, and DGF Investments have filed a lawsuit alleging that Dolic and Ebel have looted the company for their personal gains. Layer1 is a San Francisco-based company that builds energy-efficient bitcoin mining data centers.
According to the lawsuit, the defendants have taken advantage of a loophole created in Layer1 following the resignation of Enigma’s CEO and CTO, and are operating the company for their own benefit.
The plaintiffs also claim that the defendants have interfered with the authority of Layer1’s CEO and hired their own family members as contractors, making it difficult for the CEO to run the firm.
Dispute Over Ownership
The lawsuit alleges that Dolic claims to own a 77% stake in Layer1, but the plaintiffs describe this information as “demonstrably false.” They claim that Dolic transferred all of his Layer1 stock to Enigma in January 2022 as part of a merger deal, and all outstanding shares of Layer1 stock not owned by Enigma were canceled. Nevertheless, Dolic allegedly sent an email to a Layer1 contractor claiming ownership of 77% of the miner.
The plaintiffs are seeking to preserve the status quo, confirm Enigma’s 100% ownership of Layer1, and prevent the defendants’ continued control of the company until it has resolved its governance issues.
Recommended reading: 5 Tips for Beginner Bitcoin Traders
Conlusion
In conclusion, the lawsuit filed by Layer1 Technologies CEO John Harney and DGF Investments against Jakov Dolic and Tobias Ebel highlights the ongoing internal legal battle within the bitcoin mining company. The plaintiffs allege that the defendants have taken advantage of the current crisis and misappropriated the company’s funds, as well as interfered with the authority of Layer1’s CEO.
The dispute over ownership of the company is also addressed in the lawsuit. The plaintiffs are seeking to preserve the status quo, confirm Enigma’s ownership of Layer1, and prevent the defendants from continuing to control the company until its governance issues are resolved.
https://youtu.be/jy_lxLcy_3g