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...
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