Ethereum software developer ConsenSys AG (aka ConsenSys Mesh) has settled an acrimonious lawsuit with its former head of venture capital, Kavita Gupta.
“ConsenSys Mesh and Kavita Gupta have agreed to settle their respective litigations against each other,” a ConsenSys spokesperson told CoinDesk. “The parties agree that ConsenSys Mesh has not breached any of its contractual obligations to Ms. Gupta.”
Two people with knowledge of the situation had earlier told CoinDesk a settlement agreement had been brokered.
Lawyers for Gupta, who worked at ConsenSys between 2017 and 2019, had filed a complaint against the company and asked for at least $30 million in monetary damages.
ConsenSys AG had responded to Gupta’s lawsuit by filing a legal complaint against her alleging resume fraud in January.
A related company also in the orbit of Ethereum co-founder Joseph Lubin, ConsenSys Software Inc, was recently valued at $7 billion in a $450 million funding round.
The exact settlement granted to Gupta is not known, but a source told CoinDesk it was “give or take $10 million.”
Another source said the settlement was considerably lower – closer to $3 million.
Lawyers for Gupta declined to comment.
CORRECTION (April 7, 14:28 UTC): ConsenSys AG (aka ConsenSys Mesh) is the party involved in the Gupta lawsuit. ConsenSys Software Inc is the company valued at $7 billion in a recent funding round. Wording that confused the two companies has been removed.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.