It’s one thing to be sued by a neighbor. It’s another thing to be sued by former employees. This brings the level of humility to an all-time high that most business owners hope to never experience for themselves. This month, that scenario is becoming all too real for bitcoin mining firm BitFury, a company facing a pending lawsuit from its former Chief Financial Officer (CFO) Mikhail Golomb.
According to Coindesk, the suit was first filed back in April of this year by Golomb, who is claiming he was terminated improperly after the company refused to pay him his allegedly rightful 2 percent equity compensation in the business. The court filing reads:
“Throughout his employment with defendants, plaintiff demanded defendants comply with the Employment Contract and make the required grant of equity to the plaintiff. Defendants terminated plaintiff’s employment in retaliation therefore in order to avoid their obligations to plaintiff under the Employment Contract.”
Golomb also says that he was denied bonuses, payment for unused vacation time and additional monies for the severance of his contract. He is currently claiming $10,000 in damages and attorney’s fees.
In an unsurprising move, BitFury is refusing to go down without a fight. The business is alleging that Golomb’s termination was the result of his unsatisfactory performance. BitFury is even going so far as to suggest that he was abusive towards employees and that he engaged in fraudulent conduct during his time as the company’s CFO. The company has been trying to get the lawsuit dismissed since June.
Speaking with Coindesk, legal counsel to BitFury Varun Gupta of law firm Orrick, Herrington and Sutcliffe LLP explained:
“As a company, we intent to fight this case vigorously. We think it without merit.”
The next hearing is scheduled for December 30th.
What do you all think of the suit? Is Golomb entitled to something extra, or has BitFury been more than generous? Post your ideas and comments below.