3 days ago
A suit successful the Delaware Court of Chancery seeks to compel Howat to comply with obligations nether the November 24, 2025 Stock Purchase Agreement.
Apr 13, 2026, 7:04 p.m.
Listed cryptocurrency steadfast Exodus Movement (EXOD) is suing W3C, the genitor institution of crypto paper and payments specialists Baanx and Monovate, and its main executive, Garth Howat, to implicit its $175 cardinal acquisition of W3C, agreed successful November of past year.
A suit successful the Delaware Court of Chancery seeks to compel Howat to comply with obligations nether the November 24, 2025 Stock Purchase Agreement.
Howat and W3C accepted $80 cardinal worthy of loans from Exodus upon signing the deal, with $10 cardinal fixed to Howat personally, who past declared that they did not request to repay these loans, according to the lawsuit.
“Defendants Garth Howat and W3C are engaged successful a blatant, reckless, and improper run to flight closing a transaction for the merchantability of W3C to Exodus that they had promised to implicit successful a binding agreement,” the suit states.
“They person attempted to pilfer millions of dollars from 1 of their ain subsidiaries. They person falsely backdated documents filed with authorities authorities. They person purported to summarily disregard full boards of directors, arsenic good arsenic the CEO and CFO of their cardinal operating entity, and regenerate them with lackeys of their choosing, contempt being precluded from doing truthful by the binding agreement,” it said.
Howat did not instantly respond to a petition for comment.
W3C companies Baanx and Monovate were down the Crypto Life integer plus cards concern that worked with the likes of Mastercard and MetaMask.
JP Richardson, CEO and Co-founder of Exodus commented, “We person a binding statement with W3C and expect it to beryllium afloat honored. We’re assured successful the way guardant and expect a swift resolution.”
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