Court dismisses Layer1 co-founder's lawsuit against the US bitcoin miner operator


Jakov Dolic, a co-founder and former president of Layer1, has withdrawn the lawsuit he filed against the U.S. bitcoin miner operator.

According to the case's court docket updates, Dolic withdrew his motion on November 11 of a preliminary injunction over Layer1's alleged plan of selling a Texas substation that was at the center of the dispute.

He subsequently filed a voluntary dismissal notice of the case to the court on November 13 as settlement talks are ongoing between the two parties.

Layer1 said in a statement shared with The Block that Dolic filed the dismissal notice without prejudice.

Yet the court issued an order to dismiss the case with prejudice on November 16 based upon Dolic's voluntary dismissal notice, meaning the case is concluded and can't be brought to the court again.

Dolic filed the lawsuit on October 30 in order to vest his title on Layer1's $20 million power plant in West Texas, which shed lights on internal issues at the U.S. bitcoin miner operator. 

Dolic was granted the preliminary injunction over Layer1 at the time as he alleged the firm was looking to sell the substation as it experienced "an acute cash crisis."

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Aug 11, 2021, 5:18PM UTC