The co-founders of the blockchain gaming platform Gala Games, Wright Thurston and Eric Schiermeyer, have filed lawsuits against each other in a Utah District Court. Schiermeyer claims that Thurston stole $130 million worth of GALA tokens at the beginning of 2021, while Thurston claims Schiermeyer has been wasting company assets and borrowing money from Gala for personal use.The GALA token has dipped more than 5% over the last 24 hours as a result of the dispute. Schiermeyer is seeking for Thurston to step down from his position as Gala director and for the return of the stolen GALA tokens. Thurston is requesting that Schiermeyer be removed from Gala Games and pay at least $750 million in damages and relief.In March 2023, the US Securities and Exchange Commission (SEC) sued Thurston and two companies he co-founded (True North and Green United) for selling investments in a supposedly fake crypto mining scheme.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	8
People	Eric Schiermeyer, Wright Thurston
Companies	Utah District Court, Gala Games, True North United Investments, Green United, Crypto Wallet, True North, US Securities and Exchange Commission (SEC)
Currencies	US Dollar, GALA, Ethereum, TrueChain, Bitcoin
Securities	None