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Tuesday, May 24, 2022

ConsenSys Employees Have Filed Serious Irregularities Audit

A group that has claimed to represent close to 35 former employees of ConsenSys AG has requested an audit. This comes under the Swiss Code of Obligations, which would see it investigating serious irregularities that, allegedly, occurred in the middle of 2020. CAG, which is also referred to as Mesh, is the main company behind MetaMask, the top wallet provider based on Ethereum.

This company was created by Joseph Lubin, who is also the co-founder of Ethereum. According to a release made in the press, this particular group of employees who claim to represent around 50% of all known shareholders has submitted this request to a Court in Switzerland on the 1st of March. 

ConsenSys Accused Of Irregularities

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The group claimed that ConsenSys AG had participated in illegally transferring fundamental intellectual property as well as subsidiaries to a completely unknown entity called ConsenSys Software Incorporated, on the 14th of August, 2020. The erstwhile employees have also asserted that they and most of the other shareholders have had no idea that the IP transfer had already taken place. They further claimed that the deal was only processed through major shareholders and the co-founder himself. 

ConsenSys, on its part, stated that the release was the work of just a single employee. The company decidedly refuted all of the allegations underlying this legal action as well as those that were contained in the press release. The company was actually looking forward to refuting these accusations and allegations in the Swiss court where the case was brought up. 

This action against ConsenSys and Lubin comes exactly a few months after Kavita Gupta, the former General Partner, filed a lawsuit against the firm in the state of New York.

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