Zerocoin Electric Coin Company or ZCash Company, now known as The Electric Coin Company , is reportedly being sued for “breach” by one of its employees . The company may incur a fine of $ 2 million.
A contract not honored
The document of the complaint would have been deposited on May 29 before the Superior Court of California, located in the county of San Francisco in the United States, by Simon Liu, one of the former employees of the company.
The charges against the company stipulate the negligence of payment in shares of the company which amounted to a value of 15 000 USD in 2016.
The dispute arises from the fact that this amount rightfully belongs to the employee, as he bought them after having modified his employment contract to include an incentive purchase option.
In addition, the victim also alleged that the company had created, or at least allowed, a hostile work environment.
A wrongful accusation would have been the basis of this unhealthy intention that he disseminated unfounded information to colleagues in the company.
In damages and interest for the damages he suffered, Simon Liu claims $ 2 million to the company.
Zerocoin plays big in this case
In addition to these $ 2 million, the company could also face much heavier legal negligence charges if these allegations are upheld.
Indeed, Zerocoin did not have the legal authority to issue ordinary shares to employees in 2016, a fact of which the defendants were well aware.
So far, no official announcement has been made, either by Zooko Wilcox, Zerocoin’s CEO or by Electric Coin Company, who allegedly failed to comment on a pending dispute.
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