Foresight News reports that Robert Leshner, founder of Compound and Superstate, announced on Twitter that he will abandon his bid for control of the US alcoholic beverage company LQR House, due to the company's ongoing issuance of new shares diluting shareholder equity, which has resulted in his holdings no longer having effective control. Additionally, he stated that he will not initiate any proxy or legal action and plans to recommend community experts to LQR to help establish a crypto treasury.
Previously, Robert Leshner acquired approximately 56.9% of LQR House shares with about $2.03 million of personal funds, becoming the controlling shareholder.
