Ethereum cofounder Joseph Lubin was recently summoned to court in New York when a former employee initiated a lawsuit for more than $13 million. According to the summons stemming from former Token Foundry CEO, Harrison Hines, relief was being sought for alleged unpaid profits, fraud, unjust enrichment, and breach of contract.
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Consensys Founder Summoned to Court
A New York-based court summons dated June 5 shows that Joseph Lubin was accused by his former employee, Harrison Hines, of a variety of abuses tied to the Token Foundry project. Lubin is the founder of Consensys and one of the many cofounders of the Ethereum project. Hines’ legal council states in the summons that the action is due to a breach of contract. Additionally, the plaintiff is seeking damages for unpaid profits, and fraud connected to the Consensys satellite project called Token Foundry. The project consisted of a marketplace of vetted tokens that investors could purchase. At least four live sales took place on the Token Foundry marketplace. According to the summons from Hines’ legal team Canelaw LLP., the plaintiff is claiming more than $13 million in damages.
“The relief sought is monetary damages in the amount of $12,827,000 on the contract, quasi-contract and fraud claims plus $404,783 in unpaid profits,” the summons details.
Consensys is a company Lubin founded in 2014 based out of Brooklyn New York. The project is considered a dedicated blockchain tech company and venture studio. Several of the startups used initial coin offerings to fund their roadmap including Singulardtv, Gnosis, and Civil. The company has called itself a “hub and spoke” business model and the blockchain startups under
