Investor sues BNB-focused CEA Industries over ghost company claims

An investor has filed a lawsuit against Nasdaq-listed CEA Industries, a company focused on investing in BNB, alleging it is operating as a ghost company with lax management, The Block reported. The plaintiff, Abraham Gomez, sued CEA Industries and Hans Thomas, a CEA director and co-founder of 10X Capital. Gomez claimed that when he visited CEA's offices, he found no key executives or operational staff and could not even find a functioning website. In response, major CEA shareholder YZi Labs, formerly Binance Labs, commented that any investor's illusions would be shattered upon visiting a Nasdaq-listed company only to find it had no management, operations, or even a website. The lawsuit follows a previous governance dispute between YZi Labs and the CEA board, in which YZi Labs raised concerns about the board's autocratic management and alleged disclosure violations by 10X Capital and its affiliates.