Law360 (July 21, 2021, 6:04 PM EDT) — Executives at blockchain firm CasperLabs broken the corporate’s prospects and misled traders by placing private achieve over technological improvement, a CasperLabs investor has instructed a California federal court docket.
Investor Coordination Know-how Ltd. accused CasperLabs executives and board members of approving investments that benefited firm insiders relatively than the corporate, of partaking in a pump-and-dump scheme across the digital “Casper” coin, and of sacrificing key components of Casper’s purported expertise in favor of a less expensive choice. CasperLabs LLC is listed as a nominal defendant within the go well with, which was filed Monday.
“The defendants violated their fiduciary obligations to shareholders [in order] to…
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