Esports Entertainment Group ex-CEO sues company
March 28, 2023
Esports Entertainment Group, a leading esports betting, and gaming company have recently been hit with a lawsuit by its ex-CEO, Grant Johnson. The lawsuit comes just five months after Johnson resigned from his position at the company.
According to court documents, Johnson has accused Esports Entertainment Group of breaching his employment contract and failing to pay him as promised. The lawsuit is seeking damages in excess of $21 million, which includes unpaid salary, bonuses, and equity compensation.
Johnson claims that he was promised a salary of $750,000 per year, plus a bonus of up to $1 million annually, as well as equity compensation. However, he alleges that the company failed to pay him the full amount owed and did not grant him the equity compensation he was promised.
Furthermore, Johnson claims that he was wrongfully terminated from his position as CEO and that the company breached his employment contract by failing to provide him with adequate notice before terminating his employment.
In response to the lawsuit, Esports Entertainment Group has issued a statement denying the allegations and stating that it intends to vigorously defend itself in court.
This lawsuit comes at a time of significant growth for the esports industry, which has seen a surge in popularity and revenue in recent years. Esports betting in particular has been a major driver of growth, as more and more fans looking to gamble on the outcomes of their favorite games and tournaments.
As the industry continues to mature, it will be interesting to see how legal issues like this one are resolved and how they affect the growth and development of esports and esports betting in the future.