As a seasoned legal analyst with extensive experience in corporate law and jurisdictional matters, I find Northern Data’s motion to dismiss the lawsuit filed by former employees Joshua Porter and Gulsen Kama intriguing, given the serious allegations of fraud and tax evasion leveled against the company.
Northern Data has submitted a request to have a legal action brought against them by ex-employees thrown out. They contend that the court does not have the authority to hear the case and the allegations made are too vague.
The US subsidiaries of European Bitcoin mining firm Northern Data have made a request to discard a legal action initiated against them in the Central District Court of California by ex-employees Joshua Porter and Gulsen Kama.
According to a report from crypto.news, the argument made in the motion is that the court does not have the power to hear this case because Northern Data, the subject of the lawsuit, is not under California’s jurisdiction. The company’s American branches are incorporated in Delaware and located in Virginia.
The company counters the fraud allegations made by Porter and Kama, labeling their lawsuit as a “thinly disguised attempt by disgruntled former employees to secure further financial gains from Northern Data.” In response to the accusations, the company emphasizes that Porter and Kama did not supply sufficient evidence, including identities of the supposed wrongdoers, descriptions of the purported fraudulent acts, their occurrence dates, and locations.
In early July, the ex-executives of Northern Data filed a lawsuit alleging that the company, based in Frankfurt, had been deceitfully representing its financial health to investors, regulatory bodies, and business associates. They further claimed that the firm was deliberately evading taxes, possibly amounting to tens of millions of dollars.
A Northern Data representative denied the accusations, stating that the company is “actively challenging them to shield ourselves from unfounded claims that harm our reputation and business.”
Currently, Northern Data is considering the option of launching an Initial Public Offering (IPO) for their AI cloud computing and data center businesses in the United States around next year. If successful, this new entity could be valued anywhere between 10 and 16 billion dollars.
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2024-07-16 11:52