Topic: Crypto Casino Stake.com sued for $400 million - page 7. (Read 4171 times)
Bit of a troll isnt it, how is this relevant to whether you play there or not. The true details and nature of the legal case is not something likely to be known perfectly by players and users of the site, I dont see it affects me in my choice to play or not. Discussions over equity in a business by partners or former partners is not that uncommon, Facebook famously faced this and to this day has some unusual share class distribution to its stock listing. Really more of a business discussion then a player thing imo.
$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.
Regardless of the issue, we should start withdrawing some funds for now because it can really affect the site itself and maybe the court will order that while the case is on-going. This is a battle of rich people, they all have the money to pursue this case and with that issue, I hope Stake can afford this one and win the case though they can still settle this, and might be the best way to protect the interest of their players. 
$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.
Regardless of the issue, we should start withdrawing some funds for now because it can really affect the site itself and maybe the court will order that while the case is on-going. This is a battle of rich people, they all have the money to pursue this case and with that issue, I hope Stake can afford this one and win the case though they can still settle this, and might be the best way to protect the interest of their players. 
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!
So many news I have been seeing in the net recently and I wouldn't be surprised because this is the same way Facebook was sued too and Mark Zuckerberg had to compensate his colleague that both joined to create Facebook. As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!
This kind of news is normal in this era that we are and we shouldn't be worried about it because the end would still be compensation which would not be as much money that is requested. Nothing to be worried about because it looks like he wanted compensation from the casinos which is quite obvious.
There’s no doubt that STAKE can totally settle that $400million but the issue here is not about the money, this is already in the court and that could be more alarming since it can happen again once a gamblers find a reason to sue the site. If this will push through, we can expect for a temporary suspension of the site and that could affect many gamblers. This is too bad especially if the old partner knows your bad side, let’s see how they can handle this issue.
This is where money can take you, they are co-partners before but due to some reason they part ways and this is the result of that. I know Stake can settle this issue but most probably, Freeman wont come into that agreement and continue to pursue this case. Well, this is their personal problem and not related to Stake gambling itself, we can still have an assurance that the site will stay intact. With regards to the suspension of the operation, I don’t think it can happen, because the case is not about the site itself, the case is about their agreements. Definitely, it boils down to money, to the ex-partner that's why he sued the current owner of Stake. Even in other industries, this happen specially if the company become so famous and started to rake money, billions and billions like in this example.
But hopefully, they could settle their difference and move on. I'm not saying that Stake can't afford to pay $400 million, but for sure them and the lawyers will have to put up a fight and or at least lower what was initially ask by the complainant.
There’s no doubt that STAKE can totally settle that $400million but the issue here is not about the money, this is already in the court and that could be more alarming since it can happen again once a gamblers find a reason to sue the site. If this will push through, we can expect for a temporary suspension of the site and that could affect many gamblers. This is too bad especially if the old partner knows your bad side, let’s see how they can handle this issue. But hopefully, they could settle their difference and move on. I'm not saying that Stake can't afford to pay $400 million, but for sure them and the lawyers will have to put up a fight and or at least lower what was initially ask by the complainant.
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.
More on the money side and I'm sure Stake have that enough funds to settle this if in case they'll going to lose with this case, but operation wise they won't allow any interventions as the main point here is for them to settle the claim and there' nothing to be confiscated as like you mentioned there's no financial issue or whatsoever.
Same with my first sentiment, if stake can throw huge amount of money for promotions, advertising and partnerships what more in this case, they can pay this for the operation to continue and not to allow their clients to fear out.
Definitely, it boils down to money, to the ex-partner that's why he sued the current owner of Stake. Even in other industries, this happen specially if the company become so famous and started to rake money, billions and billions like in this example.
But hopefully, they could settle their difference and move on. I'm not saying that Stake can't afford to pay $400 million, but for sure them and the lawyers will have to put up a fight and or at least lower what was initially ask by the complainant.
$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.
I agree with you, that's a huge amount and enough number to make a certain company to collapse and have a huge debt as well. We all know stake. com maybe they have plenty of money to be used in order to this issue but then investors will have a doubt on them since they already lose money we as people will always think that if one case arises more will come up soon and do they still have some money when that time comes? so I think better to move out the money and come back after they will clear their name publicly and with a clarifications.
"He noted that the firm had processed about $100 billion in bets."
If you do just make out some percentage reduction or revenue out of those bets then that 400m amount wont totally close up this company but it cant
really be denied that this amount is indeed huge or would give big impact.
$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.
I agree with you, that's a huge amount and enough number to make a certain company to collapse and have a huge debt as well. We all know stake. com maybe they have plenty of money to be used in order to this issue but then investors will have a doubt on them since they already lose money we as people will always think that if one case arises more will come up soon and do they still have some money when that time comes? so I think better to move out the money and come back after they will clear their name publicly and with a clarifications.
$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.
This could be creating a panic. It is just a lawsuit that has not been decided. It is between partners, friends or Co founders. I would have supported the idea of moving your funds if the suit was against government. Stake has released a statement and with the statement we don't need to panic. Even if $400m suit is made, it doesn't mean stake will pay $400 is too high. It's likely they will resolve the issue out of court.But you raised a good point here: even if the guy doesn't expect to receive the $400 million, creating a panic could be one major goal of that lawsuit and I think that people will indeed withdraw funds. Now maybe not to an extent that they run into an existential liquidity crisis, but you can't ever know. If everyone wanted their money all at once, that could put the casino under pressure as the question also is when people who left temporarily start playing again. So either way such a message causes probably financial damage in some shape or form.
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.
More on the money side and I'm sure Stake have that enough funds to settle this if in case they'll going to lose with this case, but operation wise they won't allow any interventions as the main point here is for them to settle the claim and there' nothing to be confiscated as like you mentioned there's no financial issue or whatsoever.
Same with my first sentiment, if stake can throw huge amount of money for promotions, advertising and partnerships what more in this case, they can pay this for the operation to continue and not to allow their clients to fear out.
I don't understand why livingfree is trying to reassure people while he is not even a member of their campaign. If people lose their funds I guess he will reimburse them. Right livingfree? LOL
I'm not reassuring people, I'm just giving my opinion based on what I've read on that article. That's the only source where I've based from what I've read. Whether I'm not a member of their campaign, I've just read the information that's in the article.And if people lose their funds, why I will reimburse them if I've just given my opinion about what has been shared on this board?
There have been cases brought by newbies about their funds about this casino and there are several factors that have been given for those reasons, either they cheated, there's an abused and others.
Although I understand it about the thoughts of being worried still, we all have a say and way of taking care of our funds and handling issues that could affect our trust and funds. If you trust them, it's up to you and keep it there but if this worries you, withdraw your funds.
If they're not even bothered by it, there's no way that the customers should be bothered by it.
It's not that Freeman can get the win right away there will be a lot of presentations on the case, between the two Stake.com has the money they can hire or they already have the best lawyers to fight this case, they can go on a short route by settlement, I don't think this is something that will cause alarm, Facebook has similar issues in the past, and many corporate have faced similar issues, Stake.com knows what to do and they will continue to be the top casino in the industry.
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.
Not that alarming. You can read the article and see what it is all about. If you're a regular customer, there's no need for you to be worried about it. Whether you have a big or small amount on your bankroll, that won't be touched by this problem that has been brought.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 .
If they're not even bothered by it, there's no way that the customers should be bothered by it. Hoping that they will get into settlement agreement that both will benefits .
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.
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.
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!
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.
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.As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!
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 .
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.
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".
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.
It's a shame to see friends end badly over money, but this happens even in the best families.
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.
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.
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