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Bitmain Confirms Ousting of Micree Zhan, Threatens Legal Action

Published 05/27/2020, 06:20 AM
Updated 05/27/2020, 08:00 AM
Bitmain Confirms Ousting of Micree Zhan, Threatens Legal Action
WB
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Mining equipment producer Bitmain has issued two concurrent statements regarding its disgraced co-founder Micree Zhan, confirming his ousting in October.

The statements were posted on Bitmain’s Weibo (NASDAQ:WB) page on May 27, both of them reiterating that Micree Zhan, the company’s former chairman and legal representative, was removed from his position by a shareholders’ decision on Oct. 28, 2019. On November 5, the statement reads, the company passed the executive director’s decision to remove Zhan from management.

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