Health Tech Co. Founder Fights Investor After Value Rockets

Law360, London (July 23, 2020, 7:25 PM BST) -- The owner of a U.K. health technology company is suing a special purpose investment vehicle for up to £43.5 million ($55.4 million) for allegedly refusing to honor a share-repurchase agreement as the company's high-profile app has won government praise.

Babylon Health chief executive Ali Parsadoust is asking a High Court judge to order British Virgin Islands-incorporated Hanging Gardens Ltd. to respect a 2016 share option agreement, according to recently public particulars of claim.

Lawyers for Parsadoust said that under the contract, Hanging Gardens should be forced to transfer back more than 20,000 shares for £2.4 million. While Babylon has been "ready, willing and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!