United States-based crypto mining company Marathon Digital and its CEO, Fred Thiel, are facing legal troubles as shareholders have filed a lawsuit against them. The complaint accuses Thiel and other executives of breaching fiduciary duties, engaging in unjust enrichment, and wasting corporate assets. The shareholders are seeking potential contributions from the defendants for their alleged wrongful acts that led to a complaint by the US Securities and Exchange Commission. The lawsuit also aims to address corporate governance issues by strengthening board supervision and altering the procedure for directors' elections. The plaintiffs claim that the company's management downplayed problems, inflated Marathon's valuation, received excessive compensation, made misleading insider sales, and obtained undeservedly high bonuses based on false statements. Additionally, Marathon had previously received a subpoena from the SEC concerning transactions with related parties.Marathon Digital and CEO Face Lawsuit Over Alleged Breach of Duties
