Credit: Morrowind/Shutterstock Part Owner of Crypto-Mining Company Petitions to Dissolve Firm
This suit was surfaced by Law.com Radar. Read the complaint here.
December 05, 2022 at 01:07 PM
1 minute read
Jon Koones, a one-third owner of the crypto-mining company Power Block LLC, filed a petition for dissolution on Thursday in Delaware Court of Chancery. The complaint alleges that the other two owners froze Koones out of the company and denied him access to his $1.9 million share of bitcoin. The suit further contends that the cryptocurrency market has 'taken a nosedive,' making it impractical to continue running the business. The petition was filed by Connolly Gallagher and Dressel/Malikschmitt. Counsel have not yet appeared for the respondents. The case is 2022-1107, In re Dissolution of the Power Block Group LLC.
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