Gala Games’ internal problems have come to light as a result of a recent lawsuit that was filed in the Utah District Court of the United States. On August 31, 2023, co-founders Eric Schiermeyer and Wright Thurston filed lawsuits against one another, accusing the other of stealing Gala tokens from the business.
The Gala Games ecosystem depends on the tokens, which are also utilised as a means of player exchange and for in-game purchases. The lawsuit demands Thurston be fired as a director, payment for Gala Games’ losses, and payout or restitution of the stolen cryptocurrency.
it also draws attention to Thurston’s previous involvement in numerous businesses that had legal issues, financial difficulties, or filed for bankruptcy.
Wright Thurston and his investment company, True North United Investments, LLC, are charged in a Verified Shareholder Derivative Complaint by Eric Schiermeyer with stealing 8,645,014,077 GALA tokens from the business. They are essential components of the Gala Games ecology. The claim in the case is that Thurston moved, exchanged, or sold the tokens for a total of almost $130 million before the company had a chance to reply.
The lawsuit claims that before the firm could take any action, Thurston and his investment vehicle True North United Investments, LLC, are accused of stealing 8,645,014,077 GALA tokens from it through a convoluted sequence of transactions totaling almost $130 million. The lawsuit also alleges that Thurston and True North were previously sued by the SEC for deceptive practises connected to a crypto currency project named “GREEN.”