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Why did Zcash receive a lawsuit?

Why did Zcash receive a lawsuit?
Asked by
Nick Robinson categorie-icon time-icon2 months ago
1 Answer Answer Question

Ilija Rankovic
Answered time-icon2 months ago

The company behind the well-known cryptocurrency, Zcash, has received a lawsuit worth $2 million, which it will have to fight in court. The reason for the lawsuit is, as reported, unpaid shares towards an ex-employee. The documents originally filed on 29th May confirm the statement fully.

According to the suit, which has been filed to the Superior Court of California for the County of San Francisco, an ex-employee of Zerocoin sued the company as they did not give him $15,000 of stock in 2016. The aforementioned ex-employee is Simon Liu, an ex-employee of Zerocoin, now known as the Electric Coin Company.

A quote from the document states that “Plaintiff is informed and believes, and thereon alleges, that Zerocoin did not have the authorization to issue common stock to employees in 2016, and that Defendants, and each of them, were aware that Zerocoin did not have such authorisation.”

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