New Lawsuit Filed Against Bitcoin Wallet Xapo Founder

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Identity-theft protection company Lifelock has filed another lawsuit against Wences Casares, founder of bitcoin wallet company Xapo.

The suit was filed on Monday in Delaware Chancery Court against Casares and his former CFO at digital wallet startup Lemon, Cynthia McAdam, who currently serves as president and general counsel for Xapo.

LifeLock has alleged that the two withheld intellectual property related to Xapo and bitcoin integration software for Lemon that should have been included a 2013 acquisition of the startup by LifeLock, according to Courthouse News.

The suit also alleges that both Casares and McAdam worked on developing Xapo during a transition period when they were under the employ of Lifelock.

The complaint states:

“Defendants’ post-merger employment was little more than a ruse because while employed by Lemon, in Lemon offices, on Lemon computers and on Lemon-owned cloud server accounts, during Lemon-paid business hours, and using Lemon IP, defendants simply plotted their exit to Xapo while devoting the majority of their time to developing Xapo products.”

Lifelock filed a similar lawsuit last year against Casares in the Superior Court of the State of California, a suit which was eventually dismissed.

Within a month of the first report of the original California suit, Casares filed

Read more ... source: TheBitcoinNews

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