Crypto Casino Stake.com sued for $400 million - page 9.

AmoreJaz

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Quote from: Fredomago on September 02, 2022, 12:20:03 PM

Quote from: swogerino on September 02, 2022, 04:25:20 AM

Quote from: NAPK1NS_RA3 on September 02, 2022, 12:17:22 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!

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Good point Stake owners will settle this on the court and there's no need to create panic as the business was already established, if they can provide a huge amount on advertising and sponsorships what more they can take if things will affect their business, beside it's not been decided yet, there are two sides of the stories and both parties needs to prove their versions.

A counter or a settlement will be discussed and a big business like stake will choose the best way for their business.

If the court asks them to pay, then so be it. Business will continue and it will be taken as losses, a part of a business that they will consider
if things will turn against them.

though the amount involve is huge for many, but in my opinion, if this case will push thru and stake needs to pay, i believe it won't be difficult to settle this amount as we have seen how much money they are giving just for holiday bonuses. some may panic but that's just a normal reaction. i am not bias on looking at this scenario, but with the business they have today, i don't think they will just let this ruin what they established. so let's see where this goes...as you said, they may just treat such amount as losses. and then, business as usual.

Fredomago

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Quote from: swogerino on September 02, 2022, 04:25:20 AM

Quote from: NAPK1NS_RA3 on September 02, 2022, 12:17:22 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!

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Good point Stake owners will settle this on the court and there's no need to create panic as the business was already established, if they can provide a huge amount on advertising and sponsorships what more they can take if things will affect their business, beside it's not been decided yet, there are two sides of the stories and both parties needs to prove their versions.

A counter or a settlement will be discussed and a big business like stake will choose the best way for their business.

If the court asks them to pay, then so be it. Business will continue and it will be taken as losses, a part of a business that they will consider
if things will turn against them.

Gozie51

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Quote from: Eternad on September 02, 2022, 02:49:00 AM

I understand that Stake might be a high risk as this moment but the money he is asking is too good to be true. I think a settlement for a lower amount is appropriate on this kind of lawsuit that clearly just want to share a piece of cake on Stake success.

Quite huge but that is the measurement of damage seeking for based on the plaintiff , the court will eventually know what is appropriate to do. This will cause panic within the stake community except the company has to deactivate the withdrawal for now until the lawsuit is resolved.

However Christopher Freeman has a case to proof about how his "former" colleagues made him stray away from the business because seeing them live a lavish lifestyle and buying of expensive cars are not enough for him to get the relief he is seeking for.

Rruchi man

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Quote from: NAPK1NS_RA3 on September 02, 2022, 12:17:22 AM

I'll be withdrawing all of my funds and going elsewhere!

Certainly, there will be many other users like you on their platform that will find this new development very disturbing and may want to pull back from their services as a result of this. I read the whole story and all I can see is that it is a case of someone seeking settlement. The current management of Stake should not just shove this off as if it is not quickly settled, the individual seeking settlement will go to almost any length including man to man discussions, to try to ruin the casino's image. While having this case settled, they should also seek to ensure that they do not have further future cases of people suing them for similar issues, because people can be funny at times and notice that since they settled this individual quickly, may want to take advantage and try their own luck.

dothebeats

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That's a huge demand for punitive damage, and I doubt that Stake.com will agree to pay this settlement at all. The case isn't even finalized, and it's still up to the courts whether they'd proceed with this or not. What they did with Freeman is awful, but I guess the amount is still outrageous to say the least. Hopefully this gets settled in a way where both parties are happy with the outcome albeit a relationship that is already tarnished.

Quote from: aioc on September 02, 2022, 09:00:59 AM

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

If Stake.com managed to get the settlement done and all parties are happy with the outcome, this might even become a boost for Stake.com since they managed to solve the situation at hand and not evade it at all.

virasisog

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Quote from: aioc on September 02, 2022, 09:00:59 AM

Quote from: Bttzed03 on September 02, 2022, 08:28:46 AM

Quote from: avikz on September 02, 2022, 01:00:08 AM

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

Quote from: livingfree on September 02, 2022, 03:26:18 AM

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

I don't think Stake would let their users to doubt the site and panic because of this issue. This usually happens if there had been a problem with the partnership but I firmly believe that Stake would fix this as soon as they can ans they wouldn't let their reputation to be ruined. The stake has been providing a good service for years and I don't think this issue would be enough to stumble them.

Yamifoud

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I will be worried if I'm gambling a lot of money in stake.com, thing is, I only gamble a penny, so whatever happens, I'm okay with losing the money. Stake has a good reputation, they are a big gambling site, so I don't think they will just easily give this fight up, they are only sued, no court decision yet, so nothing to worry.

aioc

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Quote from: Bttzed03 on September 02, 2022, 08:28:46 AM

Quote from: avikz on September 02, 2022, 01:00:08 AM

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

Quote from: livingfree on September 02, 2022, 03:26:18 AM

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

Bttzed03

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Quote from: avikz on September 02, 2022, 01:00:08 AM

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

Quote from: livingfree on September 02, 2022, 03:26:18 AM

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

Eternad

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Quote from: acroman08 on September 02, 2022, 07:35:50 AM

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.

I doubt that more info will be available in the public since the company reputation is at stake on this lawsuit. Releasing public information might just worsen the situation since they are operating a services while the issue is internal conflict. This need to be settled and let freeman speak to clarify what’s going when the smoke is already clear. Freeman has no role on Stake company and the reason for this issue. Ed and Bij cut him off and now he wants to paid.

acroman08

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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.

Zlantann

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Quote from: fortunecrypto on September 02, 2022, 06:18:55 AM

We all can learn from here everything should have a contract even if you are dealing with your best friend, do not rely on a verbal contract, everything should be on paper and transparent, and it should be notarized because something like this could arise, Stake is considered one of the top three casinos in the industry and players will have a doubt and might transfer to other exchange, this is very interesting and we'll wait for more updates because this involves a very huge amount.

These claims are mere accusations that need to be proven beyond a reasonable doubt. Christopher Freeman is claiming that he conceived the idea of establishing a crypto casino which Ed Craven and Bijan Tehrani secretly stole and established Stake.com. But he was never part of the company and he should be able to prove that it was his idea with legal documents. But I think Stake.com is a legal entity, hence the personal matter between these three friends should be settled. Ed Craven and Bijan Tehrani should at least give their friend some millions, instead of wasting the money on extravagant and luxurious expenses.

Wexnident

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Looks like a really bad issue but I don't think the stake would drop down because of it, settlements would probably be made and that would be it. I guess it wouldn't be bad to stay away from stake temporarily but I don't think it's going to go that bad imo, the $400m amount also seems like it was just dropped so that it can be blown up and the person suing could have more power or something imo. Just give it a few months, or weeks if it was fast and I don't think the issue would still be up, unless the person suing well totally pushes for the issue to be blown out of proportion.

cryptomaniac_xxx

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Quote from: swogerino on September 02, 2022, 04:25:20 AM

Quote from: NAPK1NS_RA3 on September 02, 2022, 12:17:22 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!

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Yes, we've seen this before, partnership turns sour and then decided to sue one another. In the beginning if might not look good, but as time goes by, both online gambling platform has established themselves already, prime dice and stake then I wouldn't worry to much of it.

Of course, if the OP is that paranoid, then he can shop for other reputable casinos and make himself comfortable. I think this might be settled out of court for all we know.

fortunecrypto

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Quote from: Accardo on September 02, 2022, 12:48:31 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.

We all can learn from here everything should have a contract even if you are dealing with your best friend, do not rely on a verbal contract, everything should be on paper and transparent, and it should be notarized because something like this could arise, Stake is considered one of the top three casinos in the industry and players will have a doubt and might transfer to other exchange, this is very interesting and we'll wait for more updates because this involves a very huge amount.

Wind_FURY

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Quote from: Accardo on September 02, 2022, 12:48:31 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.

Boristhecat

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Quote from: Saint-loup on September 02, 2022, 05:33:38 AM

I agree with you, this is not a good news at all for the customers, and as states the OP it could be a good idea to not leave much funds there in the coming months IMO. 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
Now that the news is out, it could be a nice thing if Chris Freeman could tell his story, does anyone know his username here BTW?

Maybe he just read the article and sees that this is an empty lawsuit, just like the rape allegations from 20 years ago (meetoo movement)? I read the article and did not see any specifics (accusations) there, except that something was allegedly promised to him, etc. many years ago. If he had clear contracts or some kind of documents, he would have presented them, right? Maybe I'm wrong, but it looks like blackmailing with the aim of damaging the reputation and trying to get money just for withdrawing the claim.

Saint-loup

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Quote from: pakhitheboss on September 02, 2022, 03:43:55 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 agree with you, this is not a good news at all for the customers, and as states the OP it could be a good idea to not leave much funds there in the coming months IMO. 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
Now that the news is out, it could be a nice thing if Chris Freeman could tell his story, does anyone know his username here BTW?

xSkylarx

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Quote from: pakhitheboss on September 02, 2022, 03:43:55 AM

This lawsuit looks similar to the Zukerberg and Winklevoss issue wherein the latter one $65 million in the settlement.

That is what I remembered also. I don't see this as a threat on Stake.com gambling platform. The issue is between the owners of Stake and its co-founder so it will likely be settled in an agreement. Based on the article on the OP, the co-founder sued the owners of Stake because he didn't got his fair share which is a very common to happen on any companies. The issue also happened many years ago and it makes me wonder why he just filed a lawsuit recently.

jcojci

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Quote from: NAPK1NS_RA3 on September 02, 2022, 12:17:22 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!

I agree with your want to move your funds to another casino before something bad happens. We also don't know how the original story came from that article and just hope that the problem can be resolved soon and not worry the members. Maybe we'd better wait for further news and in the meantime, you can move your funds and leave a small amount or nothing.

Topic: Crypto Casino Stake.com sued for $400 million - page 9. (Read 4165 times)