Ex-Jumio CEO Hit With Del. Bankruptcy Sanction Ruling

Law360 (February 17, 2021, 7:16 PM EST) -- A U.S. bankruptcy judge entered a default judgment against the former CEO of mobile payments verification business Jumio Inc. on Wednesday, citing findings of prolonged game-playing and destruction or concealment of evidence sought in a Delaware Chapter 11 adversary suit.

Judge Brendan Linehan Shannon said in his opinion that the ruling against former CEO David Mattes was a penalty both severe and rarely invoked but nevertheless warranted. It followed a yearslong discovery saga in a case filed in 2017 by Jumio's liquidating trust. Those proceedings were said to have been marked by Mattes entering into and later abandoning settlements, failing to...

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