League of Legends

Riot fines Cloud9 over stock violations

Cloud9 issued equity through its employee stock plan to seven players, which broke Riot's rules.

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Riot Games has revealed that Cloud9 is being fined for issuing equity through its employee stock plan to seven players, which is in violation of the rules of the League of Legends Championship Series (LCS).

On top of that, the organisation didn't notify Riot about the restricted stock units and didn't acknowledge them in contract summary sheets provided to the competition.

As a result, Cloud9 is being fined $25,000 USD per player, resulting in an overall fine fo $175,000. On top of that, they'll need to make payments to current and former players in restitution for the stock grants themselves, and should negotiate with current players to "extinguish existing stock grants".

Players must also have independent representation in connection with these negotiations, Riot adds.

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