Xapo Execs Sued by Former Employer for Contract Breach
The report has been updated with comment from Steven Ragland, the attorney representing Wences Casares. Several Xapo executives including founder and CEO Wences Casares are being sued for alleged contract violations. The suit, filed in August 2014 by online identity firm LifeLock, alleges breach of contract and breach of fiduciary duty against Casares, president and general counsel Cindy McAdam, and founder and COO Federico Murrone. Xapo employees Fabian Cuesta and Martin Apesteguia were also identified in the suit, according to a report by Fortune. LifeLock purchased Lemon, a digital....
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Five Xapo employees have lost their bid to dismiss a breach of contract lawsuit brought on by former employer LifeLock. The update is the latest in a case first brought to light by Fortune when it revealed LifeLock was seeking damages from the defendants, including current Xapo CEO Wences Casares and COO Federico Murrone, related to the development of IP it says would become the foundation of the bitcoin services firm. LifeLock has alleged that the defendants did not disclose the "nature and extent" of their role in developing the project, which it argues was created on its computers and....
Bitcoin miners servicing GAW were sued by Mississippi Power Company (MPC) for non-payment and breach of contract earlier this month, with the company seeking close to $350,000 including interest and court fees for the lawsuit. In particular, the company is claiming around $224,000 in services repayment, $50,000 in costs for GAW, and $73,493.48 in utility claims. The lawsuit was filed last week in the Southern District Court for the Southern District of Mississippi, with MPC being represented by Balch and Bingham LLP. Bitcoin Miners Lawsuit. GAW has already ceased bitcoin miners operations....
Bitcoin wallet company Xapo lost their bid to dismiss a breach of contract lawsuit slapped on five of its employees. This lawsuit was filed by LifeLock, which is seeking damages from defendants including Xapo CEO Wences Casares and COO Federico Murrone. According to LifeLock, the defendants did not disclose the "nature and extent" of their role in developing the project, which it argues was created on its computers and using its resources. Bitcoin Wallet Lawsuit. Back when LifeLock purchased Lemon, a digital wallet platform, it secured the services of Xapo employees. According to Xapo,....
A Mississippi electric company has filed suit against GAW Miners for non-payment and breach of contract. According to court documents, Mississippi Power Company (MPC) is seeking repayment of roughly $224,000 in services, as well as nearly $50,000 in costs incurred specifically for servicing GAW. MPC is looking to collect an additional $73,493.48, an amount the utility claims it is entitled to as a result of the alleged breach of contract. The suit was filed on 8th April in the Southern District Court for the Southern District of Mississippi. The electric utility is being represented by....
Xapo CEO Wences Casares and some of the members of the Xapo team have been sued for breaching their contract with LifeLock. Casares responded with a cross-complaint against the online identity firm and is seeking damages and a jury trial. Last year, LifeLock filed a complaint against Casares and several Xapo employees who were members of the Lemon digital wallet company that Casares founded and was acquired by LifeLock. Xapo Lawsuit. According to the LifeLock complaint, Casares and his long-time associates for launching a new business called Xapo using the facilities of Lemon. Furthermore,....