Marathon shareholders filed a lawsuit against the company's executives

Investors of the Marathon organization, which is engaged in mining, decided to sue CEO Fred Thiel. Also among the accused are 9 leading managers. They are accused of illegally wasting the company's assets for their personal needs.

What investors demand

The documentation says that the management team violates US stock exchange laws. They ignore fiduciary duties. Additionally, the company's funds are being squandered and unreasonably enriched.

Investors decided to demand compensation from the company's management because of their prohibited actions. Note that proceedings with the SEC are currently underway. The regulator checks for violations of "possible points of federal securities legislation."

Recall that in the fall of 2021, companies have already been given a summons from the regulator. Then the Commission demanded that she provide documentation on the same object that is being checked now.

The investors in the lawsuit did not specify a specific amount that the company should reimburse. He decided to leave this issue for trial in court. However, they put up a requirement to adjust the management of the miner. At the same time, they demanded to strengthen supervision over the actions of the management staff and the hiring of at least 4 of their candidates.

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