Truong"has ousted Mr. Gagacki from their joint venture and is now holding himself out to third parties as the sole owner and decisionmaker for the Rebase app," the filing alleges.
Gagacki estimates that Rebase is worth more than $150 million and is seeking damages of at least $77 million, plus interest. Responding to an email sent to its support address, Rebase said,"The news is not true and contains misinformation that is spreading in the market." It wasn't clear who had responded to the request for comment. When pressed on which part of the legal filing was untrue, Rebase didn't immediately reply.The conflict among the co-founders is the latest in a young industry being led generally by younger executives with little professional experience who find themselves at odds.
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