A state Supreme Court justice denied attempts by a former blockchain analysis firm employee to secure $80 million in damages after claiming Chainalysis breached his employment contract by failing to follow through on an alleged oral agreement to modify the terms of his stock options.

Manhattan Supreme Court Justice Joel Cohen sided with Chainalysis, which was represented by counsel from Skadden, Arps, Slate, Meagher & Flom, granting the company’s motion to dismiss plaintiff Blake Ratliff’s breach-of-contract suit for failure to state a viable claim for relief, and finding the suit untimely, according to a June 7 decision.