The post Marathon Digital Faces Lawsuit Over CEO Misconduct Allegations appeared first on Coinpedia Fintech News

Marathon Digital, a crypto mining company based in the US, is facing legal action from shareholders who allege that CEO Fred Thiel and other top executives committed a breach of fiduciary duties, unjust enrichment, and waste of corporate assets. The lawsuit was filed in the US District Court of Nevada, with plaintiffs making several claims, including violations of the Exchange Act, and demands that governance of the company be strengthened. Marathon obtained a subpoena from the SEC earlier this year associating to transactions with related parties, and in May Thiel was optimistic about the company’s financial stance.