Echo Fox shareholder Vision Espsorts and Rick Fox have privately settled, agreeing both parties will dismiss their respective lawsuits against each other, according to documents filed in the Superior Court of California in the country of Los Angeles this Tuesday.
Attorneys representing Vision Esports, Fox and the Echo Fox general partner, Esports, LLC filed for dismissal of two cases on Tuesday. Just two months ago, Stratton Sclavos, former San Jose Sharks owner and Vision Esports partner had issued a lawsuit against Fox, alleging he had taken "destructive efforts" towards the partnership.
In September, Rick Fox had filled a lawsuit against Sclavos and Amit Raizada, alleging the two partners had broken the contract and conspired to commit fraud.
"When you are in business with Amit Raizada, a man who has repeatedly been accused of dishonest and fraudulent behavior and who has a long track record of business disputes ending in litigation, then this is unfortunately what you should expect,” Rick Fox told ESPN.
The undisclosed contract includes the termination of Rick Fox's noncompete agreement with Vision Esports, giving him the ability to seek other businesses in the esports field. Fox plans on leaving the company and form a new organization, Twin Galaxies International, joining forces with former Echo Fox president, Jace Hall.
In a statement to Newsweek, Rick Fox reinforced his passion for esports:
"I have chosen to leave Echo Fox, the esports company that I founded, as a method to end the turbulent fighting and instead just continue to advance my visionary interest in being involved in a number of forward-thinking opportunities in the video game space with other strong, credible partners that share my values.
On the court and in the business world, teammates are everything and there must be unity and a shared sense of purpose in order to succeed. In the case of Echo Fox, the significant difference of values, ethics and commitment to integrity was very problematic and damaging. I have shared my thoughts on this in my past statements and court filings, and sincerely hope that my experience can help provide further insight for people who should of course make their own judgements and determinations. I have learned some very painful lessons, and am relieved to now be moving on towards more positive business experiences.
My experience with Echo Fox has in no way diminished my abiding passion for esports. I look forward to announcing my next endeavors in the coming days."
Echo Fox's LCS slot was solf to Evil Geniuses in September for $33 million, meaning a new team will join the League this spring.
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