Micree Ketuan Zhan, the co-founder of main mining {hardware} producer Bitmain launched one other lawsuit in an try to regain his place because the CEO of the agency.
In keeping with a court filing in Fujan province, Zhan initiated a lawsuit towards Bitmain’s subsidiary Fujian Zhanhua Intelligence Applied sciences and Beijing Bitmain Applied sciences.
A listening to on the case was initially scheduled for Feb. 11. Fujian Zhanhua Intelligence Applied sciences nonetheless checklist Zhan as its authorized consultant and is without doubt one of the 4 principal subordinate entities that made a fabric contribution to Bitmain’s monetary ends in its 2018 Hong Kong IPO submitting.
As Cointelegraph reported in January, Zhan has additionally initiated court docket proceedings towards Bitmain’s stakeholders in an try to regain his voting management of the corporate.
Bitmain’s shareholder coup
Zhan’s battle with Bitmain’s shareholders surfaced in October 2019, when the corporate’s co-founder, Jihan Wu, introduced in an electronic mail that Zhan had left the corporate. The e-mail learn: “Bitmain’s co-founder, chairman, authorized consultant and govt director Jihan Wu has determined to dismiss all roles of Ketuan Zhan, efficient instantly.”
On the time, Zhan stated that he didn’t depart the agency and was, actually, eliminated as a Bitmain authorized consultant with out his consent. He warned those that disadvantaged him of his management over the corporate:
“I’ll battle for her until the tip with authorized weapons. I received’t permit those that wish to plot towards Bitmain to succeed. If somebody needs a warfare, we are going to give them one.”
Wu additionally warned firm workers that in the event that they interact in conferences organized by Zhan their employment could also be terminated.