Altcoin News: Zcash (ZEC) Developer Sued for $2 Million from a Former Employee

June 12, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The developer of the cryptocurrency ZCash is sued for $2 million due to the shares, which allegedly did not receive one of his former employees.

Simon Liu appealed to a San Francisco court at the end of May, where he reported that his former employer, the Zerocoin company (now the Electric Coin Company), refused to give him 15,000 shares in 2016. These shares, according to Liu, relied on him in accordance with the renewed employment contract, which contained a clause on “promotion in the form of an option to buy shares”, which company took advantage of.

At the same time, Liu claims that Zerocoin did not have the right to issue ordinary shares and distribute them among its employees. Moreover, he is confident that the company intentionally created a negative environment around him, or at least allowed it.

Neither Electric Coin Company nor its leader Zooko Wilco does not comment on what is happening.

Zerocoin was renamed the Electric Coin Company in February of this year.

“We change the name for clarity. Company is not Zcash. Zcash is a cryptocurrency that we develop and maintain,” the company said at the time.

In April, it became known that the former Kraken manager intends to collect $900,000 from the exchange through the courts.

Author: Marko Vidrih