Aptos is facing a shareholder dispute lawsuit initiated by investors, with claims amounting to 1 billion dollars

2022-10-13 08:02:49

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ChainCatcher news, Aptos Labs CEO Mohammed "Mo" Shaikh has requested the dismissal of the $1 billion equity fraud lawsuit initiated by early Aptos investor Shari Glazer.

It is reported that in March this year, Shari Glazer and her company Swoon Capital filed a lawsuit against Aptos Labs' parent company Matonee, accusing it of fraudulently depriving her of her rightful share in the partnership. Shaikh claims that his 50% stake in Matonee has been taken away, and Shari is seeking damages of up to $1 billion in the lawsuit.

According to court records released on October 10, the court has currently dismissed the fraud and three other legal claims made by Shari Glazer, while the other three claims are allowed to proceed, primarily involving breach of contract, unjust enrichment, and the issue of Glazer's claim to owning 50% of Aptos Labs' parent company Matonee. (source link)

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