Gala Games co-founders and directors Eric Schiermeyer and Wright Thurston have sued one another with Thurston alleged to have stolen millions worth of tokens and Schiermeyer alleged to have wasted millions in corporate assets.
Highlighted excerpt from Thurston’s suit against Schiermeyer claiming the latter used Gala’s assets for personal gain. Source: PACER
Schiermeyer also allegedly created Gala entities in Switzerland and Dubai and made himself the controlling shareholder to pursue business opportunities, according to the lawsuit. True North claims Schiermeyer operated Gala without input from Thurston — a Gala director — and gave incomplete or incorrect information and corporate records to Thurston “despite repeated requests.”Schiermeyer’s suit requested Thurston be removed as a Gala director and seeks various relief and damages payments including the return of the allegedly stolen GALA.
Thurston similarly requested that Schiermeyer be removed from Gala and sought at least $750 million in various damages and relief. In March, the United States Securities and Exchange Commission sued Thurston, True North and another company he founded called Green UnitedLawyers for Schiermeyer and Thurston were contacted for comment but did not immediately respond.
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