The lawsuit, filed in Los Angeles Superior Court on behalf of Mythical, Inc., alleges that defendants Rudy Koch, Chris Ko, and Matthew Nutt, former senior executives of Mythical, covertly undermined the company’s interests to line their own pockets. The defendants, while employed at Mythical, allegedly stole a business worth hundreds of millions.
Mythical is a gaming technology company at the forefront of the emerging sector of blockchain video gaming. While at Mythical, the defendants were allegedly tasked with developing and securing investors for a groundbreaking new line of business called Mythical Ventures—a business venture that would provide capital and act as a publisher for developers making blockchain video games. Per the complaint, Mythical repeatedly sent the defendants to Dubai, United Arab Emirates, to secure investments from third parties for the business.
However, according to the lawsuit, the defendants were working for themselves, not Mythical, and secretly stole the business plan for Mythical Ventures and used it to develop and raise capital for their own similar competing business. Defendants allegedly hid their activities and led Mythical to believe that third party investment capital was not available for Mythical Ventures so that defendants could launch the business themselves and compete with Mythical.
The defendants’ alleged scheme came to light when they abruptly resigned from Mythical and, within weeks of their resignations, announced the launch of defendant Fenix Games LLC. Fenix Games was allegedly the same as Mythical Ventures—the precise business that the defendants were supposed to have been developing for Mythical. Per the complaint, the defendants secured $150 million in investments for Fenix Games while they were supposed to have been raising funds for Mythical Ventures.
Per the lawsuit, the defendants expressly agreed that Mythical, their exclusive employer, would be the sole owner of all their business developments. Mythical is therefore the rightful owner of the business of Fenix Games, which the defendants allegedly developed while using Mythical’s assets and resources.
In addition to seeking compensatory damages, the lawsuit requests specific performance of the defendants’ express contractual obligation to turn over business assets and developments to Mythical, restitution of the ill-gotten gains resulting from the misconduct alleged, punitive damages, a constructive trust, declaratory and injunctive relief, attorneys’ fees and costs, and other relief as authorized by law.
Plaintiff Mythical, Inc. is represented by Skip Miller, Amnon Siegel, and Colin Rolfs of Miller Barondess, LLP.
Mythical, Inc. v. Fenix Games LLC, et al., Los Angeles County Superior Court Case No. 22STCV39889