Layer1 CEO alleges co-founder is using majority power to 'ransack' company

The CEO of crypto miner Layer1 Technologies has filed a lawsuit against the firm’s two other board members — including co-founder Jakov Dolic — for allegedly commandeering Layer1’s operations for their own gain.

Chief executive John Harney and DGF Investments Inc — a British Virgin Islands-based investment firm —

Harney and DGF have stressed that without imminent judicial intervention to confirm that Enigma has 100% ownership of Layer1, there is nothing that can stop Dolic and Ebel from “operating” the company “for their own benefit.”

The latest lawsuit filed against Dolic and Ebel alleges a breach of fiduciary duty, pursuant to section 226 of the Delaware General Corporation Law.

The Plaintiffs are hoping to seek relief from the court via an injunction, have their fees paid for by the defendants and order an appointed custodian to run the company.

Layer1 Technologies was the first United States-based Bitcoin mining company to have fully integrated renewable energy into its operations, according to a 2020 report.

Cointelegraph reached out to Dolic for comment but did not receive an immediate response.