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Former Consensys employee accuses Ethereum co-founder Joseph Lubin of manipulating stock awards

Bloomberg News stated that dozens of former Consensys employees have filed a lawsuit against Ethereum co-founder Joseph Lubin, accusing him of manipulating early employee stock rewards, shuffling assets such as the encrypted wallet provider MetaMask, and rendering Consensys AG stocks held by employees worthless. Lubin distributed 30% of the shares in the holding company to employees, with the former employees who filed the lawsuit holding approximately 9% of the shares. It is reported that in 2020, Lubin arranged for these assets (including encrypted tools developed by some of the software engineers and product designers who filed the lawsuit) to be transferred to a new US company, which made some of the shares held by employees almost worthless. The lawsuit was filed in the New York State court on Thursday, with employees seeking compensation for damages.

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