Curve Founder Michael Egorov Triumphs in Court Against VC Firms

LOS ANGELES, Feb. 6, 2025 /PRNewswire/ – The California Court of Appeal has upheld a major legal victory for Michael Egorov, the founder of the DeFi exchange Curve Finance, in a high-profile dispute with three venture capital firms that persisted for over 4 years.

The issue originally began in 2020 between three companies — ParaFi Digital Opportunities LP, Framework Ventures, L.P., and 1kx LP — on the one side and Swiss Stake GmbH that Mr. Egorov launched for the purpose of supporting the development of Curve Finance, on the other.

When the official case was filed in October 2022, the companies accused Mr. Egorov of making false promises that resulted in financial damages for them. However, he successfully defied the charges and clearly asserted that the VC firms' claims were without merit.

In September 2023, the San Francisco County Superior Court ruled that California lacked jurisdiction over the matter, since the investment agreements between the parties specified Swiss jurisdiction. The court also noted that the firms had been the ones to first initiate contact and negotiations.

The VC companies appealed that ruling, but the California Court of Appeal dismissed the appeal, stating that they did not produce sufficient evidence to justify re-investigation. This marks a significant victory for Michael Egorov, putting an end to the lengthy dispute and allowing him to reaffirm his good name and the legal stability of Curve Finance as one of the leading platforms in the DeFi space.

Further details on the official court ruling can be found on the official website.

To require more information about Curve Finance you can visit @curvefi.

SOURCE Curve Finance