Founders: Tezos Foundation Should Foot Lawsuit Bill
As Reuters reports today, the latest episode in the near six-month Tezos saga has seen Arthur and Kathleen Breitman demand the custodian Tezos Foundation cover legal costs associated with the class action lawsuits.
The lawsuits stem from investors angry at the lack of activity since Tezos closed its giant $232 million ICO in June. The Breitmans have been in a dispute with the Swiss Foundation’s president Johann Grevers over how the project’s resources were controlled for several months.
When details became public, panic appeared to set in among ICO contributors, with major backer Tim Draper even getting involved to defend the embattled developers.
In a rare public comment at the Money20/20 conference in Las Vegas in October, Kathleen Breitman said:
I mean, it stinks – it stinks. […] Like, we’re both really embarrassed about the situation.
Now, however, the strategy to rekindle Tezos’ roadmap appears to involve “indirectly” making investors pay for their own damages claims, Reuters continues…