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Zcash is facing a legal issue with compensation up to 2 million dollars

2019-06-11 04:06 pm | Resource: News Section | No Views : 91

Zcash is facing a legal issue with compensation up to 2 million dollars The company behind the digital currency Zcash (ZEC) is facing a legal challenge of $ 2 million on unpaid shares, confirmed documents originally submitted on May 29 this year.
According to the complaint, which appeared in the California Supreme Court for San Francisco County, a former employee filed charges after he did not receive $ 15,000 in shares in 2016.
Simon Liu worked in Zerocoin, now known as the Electric Coin Company, and further claims that the company is not legally allowed to offer shares.
The document submitted to the court explained:
"The plaintiff is notified and believes, and alleges, that Zerocoin did not have permission to issue ordinary shares to employees in 2016, and that the defendants, each of whom were aware that Zerocoin did not have such a permit.
Applications for company documents were rejected.
Zerocoin or CEO Zooko Wilcox did not issue a public statement about the disaster at the time of the current press.
The change of name from Zerocoin to Electric Coin Company took place in February of this year, and the motivation was to avoid confusing ZEC as a digital currency, and the non-profit Zcash Foundation.
At the moment, Tuesday, June 11, ZEC is trading at $ 78.07, with a market value of $ 525.5 million, a decline of the last 24 hours, up to 3.68%, according to data from the website. The currency is currently ranked 23rd in terms of market value in the digital currency market in general.
It is noteworthy that the currency has seen its highest level ever in January 2018 changing one currency in the hands of closer to $ 900.
In March of this year, an ASIC mining machine dedicated to Zcash and other Equishash currencies was developed, developed by the giant Bitmain digital currency mining company.
In April of this year, in a separate case, he filed a lawsuit against a former employee of the digital currency exchange company Kraken, against the digital currency exchange for $ 900,000, claiming failure to receive commission and stock options that were said to have promised.

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