Mythical Games has filed a lawsuit against two of its former executives, alleging that they secretly raised $150 million for a new startup while still employed at Mythical. The company claims that the executives, who have not been named, breached their fiduciary duties and engaged in self-dealing by failing to disclose their fundraising efforts to Mythical and using the company's resources for their own benefit. Mythical is seeking damages and an injunction to prevent the executives from using the allegedly misappropriated funds.
In the complaint, Mythical states that it became aware of the executives' actions after they abruptly resigned from the company in December 2021. Upon further investigation, Mythical claims to have discovered that the executives had been secretly working on a competing venture while still employed at Mythical, and had raised a significant amount of funding from investors without the knowledge or consent of Mythical's management or board.
Mythical alleges that the executives' actions caused significant harm to the company, including damage to its reputation and loss of valuable business opportunities. The company is seeking compensation for these damages, as well as an injunction to prevent the executives from using the allegedly misappropriated funds for their own benefit.
The case is currently ongoing, and it remains to be seen how the court will rule. However, the allegations against the former executives highlight the importance of transparency and honesty in the business world, and the consequences that can result from breaching one's fiduciary duties.