<ul>
 	<li>According to documents filed on May 29, Electric Coin Company, which manages the Zcash cryptocurrency (ZEC), has</li>
 	<li>been sued by one of its former employees. The plaintiff seeks two million U.S. dollars, for neglecting a payment of shares in 2016.</li>
</ul>
The <a href="https://www.scribd.com/document/412558933/Simon-Liu-v-The-Zerocoin-Electric-Company-LLC-CGC-19-576321">lawsuit</a> was filed in the Superior Court of California, in San Francisco County, by former employee Simon Liu, who said he did not receive payment of USD 15,000 of the shares promised in 2016, according to a note published by <a href="https://www.theblockcrypto.com/tiny/zookos-electric-coin-company-is-being-sued-by-a-former-employee-for-breach-of-contract/">The Block</a>.

Liu, who worked in the formerly known company Zerocoin, argues that the company had no right to distribute its capital among its employees. Therefore, if the accusation turns out to be accurate, Electric Coin Company could face other charges of legal negligence.

Zerocoin changed its name to Electric Coin Company in February. The move was made to differentiate itself from Zcash and the Zcash Foundation, a non-profit organization.

The plaintiff explained that Electric Coin Company is not complying with the investigation, as the request for review of its documents was denied.

There was no public statement officially issued by the company regarding the legal matter.

Zcash is currently quoted at USD 79.57. It maintains a market capitalization of USD 536 million, according to CoinMarketCap.

A similar story occurred last April, when a former manager of the Kraken bureau de change sued the company for more than $900,000, claiming that he did not receive the commission and stock options he was supposedly promised.

Ex-employee sues Zcash officials for two million dollars

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Ex-employee sues Zcash officials for two million dollars

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