3 ms·
If anyone sues, I would think it would be Goldman as they were the firm they attempted to defraud here, and they must know how to prosecute fraud like this very
by mattnewton 5y ago
If anyone sues, I would think it would be Goldman as they were the firm they attempted to defraud here, and they must know how to prosecute fraud like this very well.
But, if they are holding a lot of equity in this company, they are also incentivized to brush it under the rug until they can offload their position. It wasn't clear to me if they had invested yet and were looking to invest more, or if they have no stake yet.
If they don't have a stake they probably just won't take one after this due diligence revealed even more than they bargained about the company.
- JumpCrisscross 5y ago> If anyone sues, I would think it would be Goldman as they were the firm they attempted to defraud here, and they must know how to prosecute fraud like this very well The Board not only brushed off brazen fraud by the co-founders, its members went to the press to defend them. Minority investors, including employees with share awards, would have a case for damages.
- Sebb767 5y agoGoldman doesn't have much of an interest here; they'll surely keep their money away from this company, but without the deal going through, their damages are minimal (in fact, it might even saved them by showing how bad of an investment this would've been for them). Google, on the other hand, had one of their higher-ups impersonated to lie about platform statistics. I don't think they'll let this slide, if only to prevent other people from doing the same.