More than two dozen early employees of the blockchain software company Consensys have filed a lawsuit against Ethereum co-founder Joseph Lubin, Consensys, and other parties. The plaintiffs allege Lubin broke contractual promises related to equity compensation made when the employees joined the company in its formative years starting in 2014.
Ethereum Co-Founder Joseph Lubin Faces U.S. Lawsuit
The lawsuit filed in New York comes as Consensys, now valued at over $7 billion, has evolved from its early experimental structure to a more traditional centralized company. The lawsuit was filed on October 19, 2023, in New York state court by 27 former Consensys employees.
The court filing names Joseph Lubin, Consensys, and JPMorgan Chase as defendants. The plaintiffs claim Lubin induced them to join Consensys in its early days with offers of equity in the parent “hub” company Consensys AG.
The former staff members allege Lubin promised this equity would not be diluted. However, in 2020 Cons
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