– Joseph Lubin, the founder of Consensys, is facing a lawsuit filed by more than two dozen former employees of the company.
– The lawsuit alleges that Lubin and Consensys violated labor laws by failing to pay overtime and provide proper compensation to the employees.
– The former employees claim that they were misclassified as independent contractors, which allowed Consensys to avoid providing benefits and protections required for full-time employees.
Consensys founder Joseph Lubin is facing legal trouble as he has been named in a new lawsuit filed in New York by over two dozen former Consensys employees. The lawsuit alleges that Lubin and Consensys violated labor laws by failing to pay overtime and provide proper compensation to the employees.
According to the lawsuit, the former employees claim that they were misclassified as independent contractors, which allowed Consensys to avoid providing benefits and protections required for full-time employees. They argue that they should have been classified as employees and entitled to benefits such as health insurance, paid time off, and retirement plans.
The lawsuit also accuses Lubin and Consensys of failing to pay overtime wages. The former employees claim that they regularly worked more than 40 hours per week but were not compensated for the additional hours. They argue that this is a violation of the Fair Labor Standards Act, which requires employers to pay overtime wages to non-exempt employees.
This lawsuit comes at a time when the cryptocurrency industry is facing increased scrutiny from regulators and lawmakers. It highlights the importance of proper employment practices and compliance with labor laws in the emerging blockchain industry.
In summary, Joseph Lubin, the founder of Consensys, is facing a lawsuit filed by former employees who allege that they were misclassified as independent contractors and not provided with proper compensation and benefits. This lawsuit serves as a reminder of the need for companies in the cryptocurrency industry to adhere to labor laws and ensure fair treatment of their employees.