A judge in California rejected the lawsuit raised by three prominent crypto venture capital firms, ParaFi Capital, Framework Ventures, and 1kx, against Michael Egorov, founder of Curve. Part of the reason is that Egorov doesn't reside in California.
In June 2023, the three VC firms filed a lawsuit against Egorov in the Superior Court of California in San Francisco, accusing him of engaging in deceptive practices, misappropriation of trade secrets, and defrauding the firms out of close to $1 million in funds. In addition, the firms have been pursuing a breach-of-contract case in Switzerland against Egorov and his company Swiss Stake since 2020.
The judge said that the defendant's behavior listed by the plaintiffs happened in 2020, but Egorov hasn't lived in California since 2018. As a result, the case shouldn't be heard in a California court.
Related: Curve Founder Michael Egorov Sued by Top VC ParaFi, Framework Ventures, and 1kx
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