Japan’s GMO Internet CEO Kumagai Faces Hawaii Deposition After Latest Crypto Failure
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Masatoshi Kumagai’s GMO Internet Group, Inc. (TSE: 9449) embroiled in legal fight with RIOT Platforms, Inc.’s (Nasdaq: RIOT) Whinstone
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GMO hired Whinstone for use of U.S. mining facilities and blames it for latest failure
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GMO argued that Mr. Kumagai was an “apex” executive far-removed from Bitcoin mining operations so shouldn’t be deposed but Judge disagrees
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Judge’s decision states “The record is replete with Mr. Kumagai’s emails which portray a very different picture than the one painted by GMO.”
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Mr. Kumagai scheduled for deposition Sept. 18-19 in Hawaii
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Mr. Kumagai operates smaller version of conglomerate somewhat similar to SoftBank Group Corp. (TSE: 9984) with dozens of subsidiaries
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Corporate governance…
