Centric Foundation received monetary compensation along with returned property and a permanent injunction against Ms. Davis.
Centric Foundation has achieved a legal victory over former acting CEO, Gabriella Davis.
Here’s the background:
Upon Ms. Davis’ termination in March, she misappropriated the company’s proprietary information and other business assets, including social media accounts and domain names. After unsuccessful attempts to resolve the matter with Ms. Davis, Centric retained legal counsel.
In May, a Texas court issued a temporary injunction against Ms. Davis, barring her from making defamatory statements about the company, and ordering the return of all Centric assets, including social media accounts, domains, and other company property. Ms. Davis has since returned all assets. No investor wallets or private keys were compromised as a result of Ms. Davis’ actions.
“While we were fully confident about our case, Ms. Davis agreed to many of our requested terms,” said Centric COO Tommy Butcher. “This included her providing monetary compensation to Centric Foundation for our legal fees and other losses. We believe the team’s time is more valuable spent growing the project rather than sitting in a courtroom,” said Butcher.
The resolution also moves the temporary injunction issued against Ms. Davis earlier this year to a permanent injunction.
A sincere thanks to our wonderful community members for your patience and flexibility while we addressed this challenging situation. We’re looking forward to moving beyond the matter and resuming full focus on delivering the Centric roadmap.