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Gala Games Founders Have Been Reported to Have Filed Lawsuits against Each Other

Gala Games Founders Have Been Reported to Have Filed Lawsuits against Each Other WikiBit 2023-09-04 10:42

Gala Games Founders Have Been Reported to Have Filed Lawsuits against Each Other

According to documents disclosed by Magic Book founder Jake Browatzke on the X platform, Gala Games founder and CEO Eric Schiermeyer and co-founder Write Thurston have filed lawsuits against each other.

The documents reveal that Eric Schiermeyer has accused Write Thurston and the holding investment vehicle True North of stealing 8,645,014,077 GALA tokens from Gala Games and allegedly transferring and selling approximately $130 million worth of stolen GALA tokens. In addition, Eric Schiermeyer alleges that Write Thurston stole licenses to operate “nodes” on the Gala ecosystem and sold them to others for personal gain, as well as manipulated nodes to earn GALA tokens. Eric Schiermeyer is requesting the court to issue a judgment against Thurston and True North and to order the defendants to return the stolen GALA tokens and any profits exchanged or sold from the stolen GALA tokens. He also seeks to have the defendants compensate the company for their ill-gotten gains, including profits obtained through stolen GALA tokens and stolen licenses, and to remove Thurston from the company's board of directors, as well as to cover all legal expenses.

On the other hand, Write Thurston accuses Eric Schiermeyer of destroying over $600 million worth of GALA tokens belonging to shareholders and other members of the Gala community without the knowledge or approval of the board or shareholders. Thurston alleges that Schiermeyer converted company assets for personal use while retaining a significant amount of GALA tokens for personal use. True North, as a shareholder and representative of BGP, is seeking compensation from Schiermeyer and is requesting the court to order the return of all profits, benefits, and other compensation obtained by Schiermeyer from his wrongful actions and breaches of trust.

Note: Around January 1, 2019, True North and Schiermeyer founded BGP and “several subsidiary companies and entities” collectively referred to as the “BGP companies,” primarily operating under the name “Gala Games” with their main place of business in Jackson, Wyoming. True North is a shareholder in BGP, holding 40.927% of the shares.


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