June 20, 2024


Passion For Business

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Aptos Labs’ Charged With $1 Billion Lawsuit

CEO of Aptos Lab Mohammed ‘Mo’ Shaikh’s motion was denied by the court. The Motion was filed against Entrepreneur Shari Glazer. Glazer claimed to be cheated on by the company, as an early investor.

The Judge Dismissed Four Motions of Aptos Lab’s

The judge passed the three other claims made against Aptos Lab’s owner. According to the report Shari Glazer has been the victim of fraudulent, which was technically dismissed by the court, and other claims such as breach of contract, unjust enrichment, and lastly Glazer’s entitlement to 50% of Matonee, which is also a parent company of Aptos.

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Aptos owners are none other than employees of Meta, Mo Shaikh, and Avery Chang. These very two are also involved with Mark Zuckerberg’s failed attempt at company or project Diem. The Diem project ultimately was ceased by higher government authority and meta sold the property and other necessary things.

Glazer earlier this year in March filed a complaint against Matonee for fraud, which took her off of the partnership and betrayed her. In this case, Shari Glazer filed a lawsuit against Apto Lab’s owner demanding $1 billion. Shaikh has 50% in Matonee, and by the report, Glazer has the same. However, she got tricked by Mo Shaikh, which is going to cost him more.

Nevertheless, the Aptos people have expressed to the media that the judge didn’t completely dismiss the motion, they just dismissed a big chunk of the motion. However, the judge has made it pretty clear that there is no way the complaints are going to get dismissed.