Crypto Casino Stake.com sued for $400 million - page 8.

Coin_trader

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Quote from: OgNasty on September 02, 2022, 11:42:20 PM

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.

Gozie51

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Quote from: Ludmilla_rose1995 on September 02, 2022, 07:17:58 PM

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.

Cryptmuster

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Quote from: Fatunad on September 02, 2022, 08:46:18 PM

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.

OgNasty

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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.

Little Mouse

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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.

Fatunad

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Quote from: robelneo on September 02, 2022, 08:11:47 PM

$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.

robelneo

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$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.

Doell

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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.

TopT3ns

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Quote from: avikz on September 02, 2022, 02:00:08 AM

$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.

Ludmilla_rose1995

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Quote from: avikz on September 02, 2022, 02:00:08 AM

$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.

bittraffic

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Quote from: Wind_FURY on September 02, 2022, 07:09:22 AM

Quote from: Accardo on September 02, 2022, 01:48:31 AM

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.

coin-investor

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Quote from: NAPK1NS_RA3 on September 02, 2022, 01:17:22 AM

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.

ultrloa

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Quote from: South Park on September 02, 2022, 06:18:07 PM

Quote from: jostorres on September 02, 2022, 02:31:39 AM

Quote from: Accardo on September 02, 2022, 01:48:31 AM

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.

South Park

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Quote from: jostorres on September 02, 2022, 02:31:39 AM

Quote from: Accardo on September 02, 2022, 01:48:31 AM

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.

ralle14

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Quote from: qwertyup23 on September 02, 2022, 01:47:50 PM

Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

That is true but I wouldn't worry about their reputation that much since it only takes time for them to rebuild it as we've seen other casinos been through bad cases before and still recover their reputation.

I'm also in the same boat as acroman and want to hear more from the side of Stake since it's unclear as to why it got to that point out of nowhere and it'd be interesting to hear their response if someone decides to bring this up during Eddie's stream tomorrow.

Finestream

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Quote from: avikz on September 02, 2022, 02:00:08 AM

$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 one is terrible. Whatever the result is, I guess this will definitely create fears on all gamblers to find some safe means to gamble wherein their money is safe and secured. For now, yes it’s better to avoid Stake and withdraw your funds for the good sake. Otherwise, your money will be lost quickly without you knowing.

dothebeats

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Quote from: qwertyup23 on September 02, 2022, 01:47:50 PM

Quote from: avikz on September 02, 2022, 02:00:08 AM

$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 kind of issue is what makes or breaks a respectable gambling website. Like what I previously mentioned, owning a gambling casino revolves around building a brand and a collective ecosystem where people would want to continue gambling in to your website. Anything that includes lawsuits, conflicts, or even customer service feedback can heavily impact the popularity of a gambling website.

Since a lawsuit has been filed in Stake, expect that there would be people withdrawing their funds in order to protect and secure their money. Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

IMO the damage is only done if Stake tried to game the system and avoid litigation as much as possible. Also, this hasn't gone to the courts yet, only filed by the other party seeking just compensation for what Stake's owners and founders did. Stake will do just fine if they just went with the flow and pay the money awarded by the courts should they favor the other party. They can do that easily, as Stake can pay the likes of Drake and still give out tons of generous bonuses to their users.

Fortify

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Quote from: NAPK1NS_RA3 on September 02, 2022, 01:17:22 AM

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!

That's definitely an interesting development and does not necessarily bode well for people who have funds in Stake like you say. Theoretically Stake should keep customer funds separate and safe from any sort of court action like this. I suspect the person taking the court action would be more interested in Stake keeping it's strong position in the market and they would receive consistent payouts from the profits that it is generating, either that or receiving back an appropriately sized share of the company based on the outcome of the settlement. These situations are often either messy or super simple to settle, if it's messy then who knows what the end result will be but customer funds should always be protected.

abel1337

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Quote from: pakhitheboss on September 02, 2022, 04:43:55 AM

$400 million in punitive damages will completely destroy Stake if they lose and in the meantime, many users will leave the casino fearing the outcome of this lawsuit. I guess the founders should resolve this issue out of court otherwise this lawsuit will also dent Stake's reputation. This lawsuit looks similar to the Zukerberg and Winklevoss issue wherein the latter one $65 million in the settlement.

I don't think stake will suffer so much damage that their customers will leave with fear because of this lawsuit. Stake seems pretty confident about their case and according to their statement, They are predicting that the case will be dismissed by the court. I agree that it looks pretty similar, actually it's the first thing came into my mind after reading the article. It's just sad that the old partners where now in a disarray. The memories and hardships they all did is now just hate between three old batchmates.

qwertyup23

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Quote from: avikz on September 02, 2022, 02:00:08 AM

$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 kind of issue is what makes or breaks a respectable gambling website. Like what I previously mentioned, owning a gambling casino revolves around building a brand and a collective ecosystem where people would want to continue gambling in to your website. Anything that includes lawsuits, conflicts, or even customer service feedback can heavily impact the popularity of a gambling website.

Since a lawsuit has been filed in Stake, expect that there would be people withdrawing their funds in order to protect and secure their money. Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

Topic: Crypto Casino Stake.com sued for $400 million - page 8. (Read 4152 times)