Jumio Investor Agrees Ch. 11 Plan Bars Chancery Claims

By Vince Sullivan (April 4, 2019, 7:06 PM EDT) -- A shareholder of former cybersecurity technology firm Jumio Inc. agreed on Thursday to dismiss most of its claims in Delaware Chancery Court against the company's founders and large stockholders for allegedly fraudulently inducing $5 million in capital investment, saying the company's Chapter 11 plan bars the claims.

In a stipulation of dismissal signed by Bloso Investment Ltd., the shareholder agreed to voluntarily toss its claims against Jumio's larger shareholders, including Facebook co-founder Eduardo Saverin, and some directors, but said the allegations against former CEO Daniel Mattes would survive in Chancery Court.

Jumio filed for Chapter 11 protections in March 2016 after...

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?
Ask a question!