For starters, August 31, 2023, was the day Gala Games was thrust into the spotlight after the company’s CEO, Eric Schiermeyer, lodged a derivative shareholder lawsuit against co-founder Wright Thurston and True North United Investments, LLC. This legal action allows a shareholder to sue on behalf of the company if they believe there have been wrongdoings against it. In a twist, Wright Thurston retaliated with a lawsuit against Schiermeyer.
Read everything about the clash here!
“Dear Gala Community,
We wanted to provide you with an important update regarding recent legal developments involving the founders of our company, Blockchain Game Partners, Inc., also known as, Gala Games, Gala Music and Gala Film.
On August 31, 2023, a derivative shareholder lawsuit was filed by Gala Games’ co-Founder and CEO, Eric Schiermeyer against Gala Games’ co-founder, Wright Thurston and True North United Investments, LLC. Subsequent thereto, a lawsuit was instituted by Wright Thurston against Eric Schiermeyer. A derivative shareholder lawsuit is a legal action filed by a shareholder on behalf of a corporation to address perceived wrongs committed against the corporation. These litigations, undoubtedly, may engender inquiries and apprehensions within our community, but we assure you that the Gala community has our unwavering commitment to transparency and accountability throughout this process.
In accordance with the principles of justice and due process, we must allow the legal process to unfold in its entirety. As an active case, we are legally restrained from making public comments or speculations concerning the ongoing litigation.
We want to emphasize that this legal process is primarily a dispute between the founders and does not involve the company in any substantive way. We are confident that Gala is well-positioned and will remain unscathed. Gala will continue to thrive and achieve sustained success. We persist in our dedication to ongoing innovation, crafting remarkable games that deliver joy and entertainment to a global audience. Our film projects advance with enthusiasm, and we eagerly anticipate forthcoming releases poised to captivate audiences. Furthermore, our Gala Music artists continue to thrive, churning out exceptional and unforgettable music that resonate with listeners. Our unwavering commitment to innovation, creativity, and our cherished community remains undiminished.
We pledge to keep our esteemed stakeholders apprised of developments as these legal actions evolve, and we remain dedicated to addressing any inquiries or concerns that may arise in the course of these proceedings. Your ongoing support is the lifeblood of our enterprise, and we eagerly anticipate sharing further exciting updates and milestones with you in the forthcoming juncture.
We extend our profound gratitude for your invaluable participation in the Gala community.
General Counsel” Link to the statement.