Mythical Games sues former executives for secretly raising $150m for new startup

Mythical Games, a Web3-focused gaming unicorn, is suing its former executives for raising money for a new startup and stealing investors from it.

Legendary Games filed the lawsuit on December 23 in Los Angeles County Superior Court. web3The focused gaming company alleges that its former executives – Chris Coe, Rudy Koch and Matthew Nutt – violated the terms of the settlement.

Until last month, Koch and Nutware were its executives. andreessen horowitzLegendary Games Supported. Nutt was the chief operating officer and head of game studios and publishers. Ko was the senior vice president in charge of investments and strategy. Koch was the co-founder of the company.

Mythical Games claims the trio fraudulently used the company’s platform to raise $150 million in funding for their new venture, Fenix ​​Games, instead of finding investors for the platform. Fenix ​​Games came out just weeks after all three left.

The company alleges that the former executives used the business plan for Mythical Games to persuade United Arab Emirates-based Cypher Capital. It asks the court to address punitive damages and compel the trio to restore all wrongful gains they acquired during their dealings with the company.

Mythical Games achieved unicorn status last year when it hit its first $1 billion valuation mark.

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