TechFlow reported, according to CoinDesk, that a lawsuit filed by three venture capital firms against Michael Egorov, CEO of decentralized finance giant Curve Finance, has been dismissed by a California judge, partly because the defendant did not reside in the state at the time of the alleged misconduct.
The lawsuit, filed in the California Superior Court in San Francisco, saw ParaFi Capital, Framework Ventures, and 1kx accusing Egorov of involvement in a "shameless" fraud scheme. The complaint alleged that Egorov misappropriated the three venture capital firms' trade secrets and defrauded them of nearly $1 million, while securing investor trust and support through false promises of potentially holding shares in Curve.
Judge Richard B. Ulmer Jr. stated that Egorov had not resided in California since 2018, while the conduct cited by the plaintiffs occurred in 2020, meaning that California was an improper venue for the trial.
