Crypto Casino Stake.com sued for $400 million

[South Park]

Its weird to see a former partner, co founder of primedice sue Stake. I think its lack of contract. Yet it feels bad to watch his friends move ahead with a project he designed without proper settlement or information.

Not really weird. I've seen similar cases like this before. This happens because one is greedy and wants more share than the others but you are right that this can be avoided if only they came up with a proper agreement or contract.

It feels really bad to see your friend took most of the benefits (if not all) and that is why he came up with this because he can not take it anymore. His friend deserves this if I were to ask but I think freeman do also has his own fault on why he fully trusted his friend. Maybe some will distance their self on stake now after this issue sprung up, not only to support freeman but also because the said act is also shady. What if they are also manipulating the results? Because they are too greedy.

We will have to see how this evolves, it seems the owners of Stake do not agree at all with those statements, which is why they will have to face each other in court, but I guess that if there was some truth to those statements it will have been easier for them to give this person a lot of money to remain quiet about this in order to avoid getting negative publicity, the fact that they are willing to face the bad publicity that is more likely coming their way tells me that they are confident they are going to win this, even if they have to pay a steep price for it.

[ultrloa]

Its weird to see a former partner, co founder of primedice sue Stake. I think its lack of contract. Yet it feels bad to watch his friends move ahead with a project he designed without proper settlement or information.

Not really weird. I've seen similar cases like this before. This happens because one is greedy and wants more share than the others but you are right that this can be avoided if only they came up with a proper agreement or contract.

It feels really bad to see your friend took most of the benefits (if not all) and that is why he came up with this because he can not take it anymore. His friend deserves this if I were to ask but I think freeman do also has his own fault on why he fully trusted his friend. Maybe some will distance their self on stake now after this issue sprung up, not only to support freeman but also because the said act is also shady. What if they are also manipulating the results? Because they are too greedy.

We will have to see how this evolves, it seems the owners of Stake do not agree at all with those statements, which is why they will have to face each other in court, but I guess that if there was some truth to those statements it will have been easier for them to give this person a lot of money to remain quiet about this in order to avoid getting negative publicity, the fact that they are willing to face the bad publicity that is more likely coming their way tells me that they are confident they are going to win this, even if they have to pay a steep price for it.

That's a lot of money and this is total huge damage to them but I thin stake will give that amount since there reputation will get ruined if they will not provide that if court order them to do so. For sure Stake will also protect their reputation because this is successful business and they want to retain the trust of their existing gamblers since this is still profitable to them.

[coin-investor]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

This is a very interesting case but I don't think Stake is shaken up by this, and you should not worry at all Stake.com by far is the most stable casino in the industry, they can opt for out of court settlement if they want it or they can fight this case, either way, this cannot harm Stake.com
it's not that Freeman is asking heavens on Stake.com, for Stake hold in the market to crumble, things like this happens in the corporate world and it can happen in the casino industry.

[bittraffic]

Its weird to see a former partner, co founder of primedice sue Stake. I think its lack of contract. Yet it feels bad to watch his friends move ahead with a project he designed without proper settlement or information.

It's not "weird", it actually has happened multiple times if a dissatisfied co-founder of a start up starts to sue his/her former partners because he/she believes that he or she has been treated unfairly, or he/she wasn't given a fair severence package if he/she was told to leave the company. The story of Facebook was one of the biggest example.

But, these cases always end in a settlement, without going to court, with everyone happy. The plaintiff gets his/her money, the defendant doesn't need to go to court. Simple.

Even if the article says true, many people wouldn't do what Freeman did however for old-time sake.
in Pricedice, it says he only got 20%, there must be an arrangement between the 3 before they proceeded and he knows exactly he'll get 20%. So why does it look at it like he was punished by the two?

There must be more to the story than just him being left out of the Stake project.

[Ludmilla_rose1995]

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

right, when the authorities intervene in this case, it is not impossible that stake operations will be temporarily suspended until the court's decision is completed, Transferring funds temporarily to other gambling sites is a wise thing. money is always the problem with a company founded with friends or colleagues.

[TopT3ns]

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

Don't panic because if moving all assets to other gambling places is also more dangerous, a blockchain wallet or exchange wallet can be the best choice for securing assets because in my opinion it is less secure, but it doesn't need to be done because stakes can always solve a problem well and there's no need to be afraid.

[Doell]

I agree with all people who say don't be afraid because stake give a lot of holiday bonuses, the amount is also not small and they can definitely solve this problem well. Transferring your funds to another casino, just to play? is casino as trusted and a good reputable like a stake? if it's not better than the stake, why bother moving it. After all we are not recommended to keep all funds in any industry be it market or gambling industry etc, agree with the post before me above.

[robelneo]

$400 million is $400 million any way you look at it it's still a very huge amount before and while the case is ongoing there will be out-of-court talks to settle this, it depends on Freeman on how he will present his case if those agreements and occurrence are recorded with witnesses then he has an advantage, I don't know if they have contracts on all their talks this will speed up in resolving it if they have contracts but if they don't have they will have to rely on witnesses.
People should when they are starting out a business and in partnership always make everything on paper to avoid future issues that may harm their business.

[Fatunad]

$400 million is $400 million any way you look at it it's still a very huge amount before and while the case is ongoing there will be out-of-court talks to settle this, it depends on Freeman on how he will present his case if those agreements and occurrence are recorded with witnesses then he has an advantage, I don't know if they have contracts on all their talks this will speed up in resolving it if they have contracts but if they don't have they will have to rely on witnesses.
People should when they are starting out a business and in partnership always make everything on paper to avoid future issues that may harm their business.

There's still no proof that Freeman words or complaints are indeed truth and not just story making kind of situation.We cant tell also on whose the one been telling the truth.
This case is still running and lets see on what would be the settlement in between parties and its true that there would be off the court kind of dealing or settlement
but i doubt that Freeman would really be making it amicable if he wont get that he do believe that he should get.

[Little Mouse]

There's no proof that Freeman is telling the truth or not. It is possible that he is trying to defame only and have stake in a trouble for a moment. It seems like he is successful if that's what his intention is.
I don’t have a lot of funds on stake, I have to check and I'm sure it's pretty low. So, nothing to worry for me. If the accusation is correct, there's something bad waiting for stake and primedice.

[OgNasty]

I don’t think this is something that you should be worried for your funds over. Co-founders suing each other is one of the more common reasons for a lawsuit. I don’t think it has the potential to end Stake or cost customer funds to be in limbo. More likely this will be settled out of court with a payoff and then swept under the rug.

[Cryptmuster]

There's still no proof that Freeman words or complaints are indeed truth and not just story making kind of situation.We cant tell also on whose the one been telling the truth.
This case is still running and lets see on what would be the settlement in between parties and its true that there would be off the court kind of dealing or settlement
but i doubt that Freeman would really be making it amicable if he wont get that he do believe that he should get.

We do not know the whole situation, so do not speculate, let's see how it all ends. I know only one thing, always where there is big money, similar situations arise. Someone decided that he deserved more, or he was underpaid and so on, and this situation would never have arisen if Stake was a small company with a small budget, there would have been no lawsuits, it's all about money.

[Gozie51]

right, when the authorities intervene in this case, it is not impossible that stake operations will be temporarily suspended until the court's decision is completed, Transferring funds temporarily to other gambling sites is a wise thing. money is always the problem with a company founded with friends or colleagues.

Suspending stake operation for this case is most likely not going to happen for now. This is an internal management issue involving partners on what way they have been treated and allegation of sharing or getting benefit but not financial embezzlement. So I think it will be in the jurisdiction of the court to determine against evidence presented or maybe out of court using ADR (Alternative Dispute Resolution) on a round table with some wine and bottles of beer.

[Coin_trader]

I don’t think this is something that you should be worried for your funds over. Co-founders suing each other is one of the more common reasons for a lawsuit. I don’t think it has the potential to end Stake or cost customer funds to be in limbo. More likely this will be settled out of court with a payoff and then swept under the rug.

Legally speaking there’s still a chance that a company go under if they don’t have funds to settle but since Stake is a huge company that have huge funds to cover, You’re right that Stake players shouldn’t be worried on case like this and also I’m sure that this lawsuit will take time to conclude in case the Freeman will win the case and get the money he is asking. Settlement is more realistic to happened and it means it will be less hassle to both party. I think this kind of lawsuit usually end in settlement since this is all about money and not justice.

[P2PECS]

It's a shame to see friends end badly over money, but this happens even in the best families.

I don’t think this is something that you should be worried for your funds over. Co-founders suing each other is one of the more common reasons for a lawsuit. I don’t think it has the potential to end Stake or cost customer funds to be in limbo. More likely this will be settled out of court with a payoff and then swept under the rug.

Legally speaking there’s still a chance that a company go under if they don’t have funds to settle but since Stake is a huge company that have huge funds to cover, You’re right that Stake players shouldn’t be worried

Yes well, money is very scary, and it is not clear to me that this news will not influence some players on the site. With such a wide range of cryptocurrency casinos, it is very easy to withdraw funds and go to another casino.

[Saint-loup]

I don’t think this is something that you should be worried for your funds over. Co-founders suing each other is one of the more common reasons for a lawsuit. I don’t think it has the potential to end Stake or cost customer funds to be in limbo. More likely this will be settled out of court with a payoff and then swept under the rug.

Legally speaking there’s still a chance that a company go under if they don’t have funds to settle but since Stake is a huge company that have huge funds to cover, You’re right that Stake players shouldn’t be worried on case like this and also I’m sure that this lawsuit will take time to conclude in case the Freeman will win the case and get the money he is asking. Settlement is more realistic to happened and it means it will be less hassle to both party. I think this kind of lawsuit usually end in settlement since this is all about money and not justice.

So many casinos, gambling sites, exchanges and crypto platforms have closed their doors without returning funds to their customers, so many casinos have locked customers funds (including Stake according to reviews) for meaningless reasons, that I really don't think it's responsible to say there is no risk for the customers, and they shouldn't be worried. In addition to be easily concealable, cryptos are not seizable assets, if the holder doesn't want to give you back your funds or his private key, even the justice can't do anything if he has no other goods to be seized. So people need to be educated about that : Not your key, not your coins and casinos are not your friends, they are business companies looking for winning money.

[Wind_FURY]

I'd love to hear more of this, I hope there would be an update soon with the case.

it's kind of weird that Chris Freeman's stake in the casino was reduced from 20% to 14% while Ed Craven and Bijan Tehrani stake in the casino did not(I assumed it wasn't reduced because it was never mentioned in the article that their stake was affected)? I wish they'd give more information since I think this one is still lacking.

Stake's founders did the same like the Facebook founders' situation. In Facebook, because Eduardo Saverin wasn't always present in Facebook's offices, Mark Zuckerburg with the help of some lawyers diluted Saverin's share of the company, to issue more shares for new investors. Eduardo Saverin and his lawyers sued, and Mark Zuckerburg and Facebook settled the case without going to court. "Money for damages caused".

[btc78]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

this is alarming for stake players like us , though i am not holding big amount in Stake site yet this is something that we must put a main concern.

the lawsuit damage claim is really high that will surely affect the operation of this old and biggest site.

Hoping that they will get into settlement agreement that both will benefits .

[gunhell16]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

According to my understanding of what I read in the article, they have always been together in prime dice, and now it seems that Freeman is suing the creators of Stakes.com who, for him, deceived him in the first place. , and now he is asking for damages of 400$ because he found out that only when did he buy expensive houses worth millions.

But as it happens, it doesn't look good for the stakes.com community here in the crypto space. It can affect other aspects for sure, especially if it spreads quickly in crypto news in this industry. I hope they can fix it soon or else everyone will be affected for sure.

[dothebeats]

I'd love to hear more of this, I hope there would be an update soon with the case.

it's kind of weird that Chris Freeman's stake in the casino was reduced from 20% to 14% while Ed Craven and Bijan Tehrani stake in the casino did not(I assumed it wasn't reduced because it was never mentioned in the article that their stake was affected)? I wish they'd give more information since I think this one is still lacking.

Stake's founders did the same like the Facebook founders' situation. In Facebook, because Eduardo Saverin wasn't always present in Facebook's offices, Mark Zuckerburg with the help of some lawyers diluted Saverin's share of the company, to issue more shares for new investors. Eduardo Saverin and his lawyers sued, and Mark Zuckerburg and Facebook settled the case without going to court. "Money for damages caused".

In the case of Eduardo Saverin, he was there during a lot of crucial moments and a lot of meetings that made Facebook grow as a company in its initial stages. He's also with Mark when they needed funding to continue Facebook's operation at the time. Mark only cut off Saverin on a very crucial meeting in which Saverin can't come up to a decision, and Zuckerberg mentions that he "can't take the lag".

For Stake.com and Freeman's case, not a lot of involvement happened between Stake and Freeman. They had a very important collaboration in PrimeDice but not in Stake, so I guess that will be Stake's initial answer to this lawsuit that is being fired at them. Whatever the case is, this will most probably get settled out of courts. Freeman has a weak case so far, but Stake needs to do some damage control too.