September 19, 2021

Bitstamp founder sues new exchange owner

Bitstamp founder sues new exchange owner

Nejc Kodrich has filed a lawsuit against the new owners of Bitstamp for attempting to acquire his remaining stake in the company earlier agreed price.

According to the former CEO of Bitstamp, the offer to buy his remaining stake in the company at current prices is severely undervalued.

In October 2018, Codric already sold ⅔ of his stake to the Belgian firm NXMH. He retained a 9.8% stake and remained CEO until October 2020.

Under the new agreement, Kodric was able to sell the remainder of his shares within the agreed time frame in 2020, 2021 and 2022.

In July of this year, NXMH offered for sharesunderstated price of $ 938. The amount offered by Kordich is significantly less than the real market valuation and below the estimated value of the shares if Bitstamp can go public.

Kodric argues that this option is not suitable for him, so he is seeking an injunction to prevent the forced transfer of NXMH shares at an undervalued price.

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