Back

Multimillion Suit Involving Augur Settled Out Of Court

Augur has been making attracting controversy in the market since its inception back in July. 


 

Augur Settles $150 Million Case Out of Court

A lawsuit involving Augur has been settled out of court. The case involved damages of $152 against the firm dealing in predicting global events. Details about the dismissal are contained in court records in San Francisco court document.

The case was presented in court six months ago by Mathew Liston. Liston served as the boss of Augur. The defendants in the case were co-founders Jeremy Gardner, Joseph Charles Krug, and Jack Peterson.

In court papers, Liston claimed that the founders committed fraud with Joseph Ball Costello after inking a deal. He stated that together, they oppressed him. In the end, Liston was kicked out of the firm leading to damage on his reputation alongside monetary expenses and mental torture. Something worth noting is that the figures cited in the case are the highest ever quoted in damages.

The withdrawal request was fronted by Liston’s lawyer Shane Balloun. The attorney ordered that the case should be terminated immediately. The dismissal has also been confirmed by Forbes.

Forbes made a follow up to get Liston views. He stated that the suit had been settled out of corridors of justice. However, he declined to issue more details around the settlement. Furthermore, Augur team has remained silent over the matter.

The out of court settlement was initiated way before. Records from the courthouse show that the request was made at the beginning of last month. Further records indicate that an agreement had been reached in principle with a written document being prepared.

Augur joined the market in July and has been making headlines within crypto circles. The platform is being supported by the ethereum blockchain. It operates by allowing clients to stake on real global happenings. It has deployed advisors among them ehereum co-founder Vitalik Buterin and Elizabeth Stark from Lightning Labs.

With the lawsuit, Augur is also attracting more attention. The platform is a decentralized prediction network that provides a conducive environment for clients to foretell events and get rewarded if the events come to pass.

After leaving Augur, Liston has been taking part in other blockchain projects. He is part of Zero Ex Omega, a blockchain based religion.


2 years ago

Start Weekly Digest

Similar news