A Georgia court refused Armstrong's plea for an emergency injunction against Hit Network CEO TJ Shedd and CFO Timothy Shedd Sr
A Georgia judge has denied Bitboy founder Ben Armstrong's request for an emergency injunction to return to the company following his removal, which he claims was unlawful.
Armstrong, who maintains a 67% interest in Hit Network, the parent corporation of Bitboy Crypto, was reportedly kicked off the company and had his access to the email domain and social media accounts blocked.
The Shedds, on the other hand, assert that Armstrong's actions, which included physically and sexually assaulting staff, left them with "no reasonable alternative" but to terminate his employment and notify the authorities.
The case, which is ongoing, has seen both sides accuse each other of wrongdoing. Armstrong, in particular, is accused of misusing corporate cash by taking out loans with NFTs owned by the company and moving funds without authorisation, according to Hit Network.
Armstrong, however, maintains that the NFTs were his personal property and that the loans and transfers were undertaken with the full knowledge of the employees. He also claims that Shedd Sr., as CFO, mismanaged funds.
The disputes arose after Armstrong was reportedly removed from Bitboy Crypto, leading to a loss of 20,000 subscribers on his YouTube channel and $1 million in revenue for the company.
As the legal battle continues, Armstrong said he filed a police report in response to threats he received, while Hit Network has hired security in response to the tensions.
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