Billion-dollar Aptos Labs lawsuit resolved, Glazer says

Quick Take

  • Roughly two months after a judge denied a motion to dismiss Shari Glazer’s lawsuit she says the matter has been resolved.
  • Glazer had claimed Aptos CEO Mo Shaikh conspired to deprive her of a stake in the company.

Shari Glazer, who sued Aptos Lab CEO Mo Shaikh and claimed she had been cheated out of of an equity stake in the new firm, now says the case is resolved. 

“I am happy to resolve this matter and am delighted to devote my time to new web3 projects and charitable endeavors moving forward,” Glazer said in a statement. She is both an entrepreneur and CEO of Kalos Labs, a web3 company.

Glazer’s announcement comes roughly two months after a judge denied Shaikh's motion to dismiss the lawsuit. In October, the court did, however, dismiss four legal claims, including fraud while allowing the case to proceed on the merits of determining if there had been a breach of agreement, unjust enrichment, or if Glazer was entitled to a 50% stake in Matonee, also known as Aptos Labs.

An Aptos spokesperson said by email the company "is pleased this case has been dismissed...[and wishes] Ms. Glazer well in her future endeavors."

Glazer alleged Shaikh launched a “fraudulent scheme” meant to deprive her of her rightful share of a partnership in Aptos as a potential early-stage investor. Former Meta employees founded Aptos with the intention of creating a scalable Layer 1 blockchain, able to service billions of people.

Around the time Glazer’s lawsuit was filed Shaikh said in a statement that “Shari Glazer’s allegations are filled with material inaccuracies and mischaracterizations that attempt to take credit for the work of others.”

Updated with comment from Aptos.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.