Mythical Games filed a lawsuit against three former executives of the Web3 gaming studio for violating fiduciary duty while employed at the firm.
The former executives, who left the company in November, were accused by the Web3 gaming studio of utilizing the expertise they acquired from raising money for Mythical to raise funds for their new company, Fenix Games.
In the lawsuit, which was filed on 22nd Dec it was claimed that Senior Vice President Chris Ko, Chief Operating Officer and Head of Games Matt Nutt, and Co-Founder Rudy Koch stole Mythical’s plans for raising money and transferred $150 million into their new company Fenix Games while still working for the organisation.
The executives revealed that Cypher Capital, a lead investor they had previously been collaborating with to secure funding for Mythical Ventures, had raised money for Fenix Games after they had each independently announced their resignation from the company in November.
(Reporting by Shubham Joshi)
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