ENF CEO claims Block.one must be held accountable for its failed promises.
The EOS Network Foundation (ENF) is set to initiate a legal challenge against leading investor Block.one (B1), alleging that the company has not fulfilled its promised $1 billion in investment commitments.
ENF CEO, Yves La Rose, unveiled the potential lawsuit against B1 via an X post on July 25th.
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The forthcoming litigation focuses on B1's supposed “failure to follow through on its $1B commitment.”
In his post, La Rose highlighted that B1 is already embroiled in another lawsuit, aiming to reach a $22 million settlement after an earlier proposed agreement of over $27 million was rejected.
La Rose encouraged any potential claimants who wished to participate in the ENF lawsuit to opt out of the existing class action. The ongoing class-action lawsuit, dating back to 2017, is still resolving its settlement process.
The deadline for claiming or opting out of the current class action is set for August 23rd, with La Rose emphasizing:
If you opt out of the US class action, there is no guarantee that you will be able to make any other claim against Block.one, or that such a claim will be successful.
La Rose expressed his frustration with the problems the EOS community is grappling with, stating that the issues stem from Block.one's failure to fulfill its commitment to invest in the EOS Network and its community.
On top of that, the man assured stakeholders that the ENF is working diligently to hold Block.one accountable.
The latest announcement from La Rose follows his May call for a class-action lawsuit against Block.one. At that time, the CEO blamed Block.one for not honoring its promise to invest $1 billion from EOS' initial coin offering (ICO) into EOSIO developers, stating that despite the ICO pledges:
B1’s promises during the ICO and after have not been fulfilled.
As the EOS Network Foundation sets its sights on a legal battle with Block.one over the alleged breach of its $1 billion investment commitment, the situation underscores the ongoing tension between the two entities.
It is worth noting that in April, the EOS Network Foundation launched a beta version of its EOS EVM mainnet.
