Citing breach of employment contract, former Society Pass CTO Rahul Narain is seeking compensation of over US$1.3 million in damages from the Vietnam-based tech firm in a US court, reported e27.
In a lawsuit filed in November 2019 before the New York State Supreme Court, Narain alleged that US-incorporated Society Pass didn’t completely pay him for his stint as an advisor and consultant before coming in as CTO.
Under his 2019 employment contract, Narain was entitled to a monthly salary of US$20,000 and an annual payment of US$36,000 for healthcare expenses as well as a series C bonus of US$350,000 and 4% common stock.
Society Pass “breached the terms of the agreement almost immediately by failing to place Narain on the company payroll, despite several requests from him and Society Pass’ then-COO Thomas O’Connor,” according to Narain’s complaint.
The company and its founder and CEO Dennis Nguyen have been hit by several lawsuits filed by ex-employees and even co-founder O’Connor.
Tech in Asia has requested comment from Society Pass about this matter. We will update this story as soon as the company responds.
See also: Bleak Q3 results sink Society Pass’ shares further
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
