Atty Says Founders Left Online Legal Marketplace In Ruins
Law360 (June 29, 2020, 11:05 PM EDT) -- An attorney with an ownership stake in the online legal platform UpCounsel Inc. filed a derivative suit Saturday in Delaware Chancery Court against the company's founders, asserting they stripped the company of value and left it in shambles before bolting to take jobs at LinkedIn.
Raj Abhyanker, a Palo Alto-based attorney who is trustee of a family trust that holds UpCounsel stock, alleges that founders Mason Blake and Matthew Faustman hid details about the company's financial troubles as they plotted "their surreptitious and self-dealing actions in trying to exit the business to LinkedIn or other suitors."
Also, UpCounsel officers were not...
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