Lifeline Legacy Holdings, a Beverly Hills-based group, claims that Ozy misrepresented its business performance and interest from other investors, according to a lawsuit filed yesterday in California.Subscribe for free
Lifeline claims that, at the time it was being solicited for investment, Ozy didn't disclose that Goldman Sachs had declined to invest after learning that an OZY co-founder Samir Rao had impersonated a YouTube executive during a due diligence call. It also says that Ozy failed to disclosed government investigations tied to that impersonation and that Ozy claimed "Alphabet or one of its Google affiliates" was leading a $30 million investment in Ozy in mid-2021.
Google Ventures, which would be the most logical affiliate to invest in a company like Ozy, says it did not make such a deal. It is unclear from the lawsuit if Ozy was ever in talks with Google about an investment, or if an investment by Google was ever made. A source tells Axios that Google Ventures did have exploratory talks with Ozy Media about an investment prior to 2021, but it never made an offer to invest.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Carlos Watson Says Ozy Media Won’t Shut Down After All: “We Are Open For Business”Watson told NBC's 'Today' show that the company has reversed its plans to shut down after speaking with advertisers and investors. Scam artists gonna scam. 'Last week was traumatic, it was difficult, heartbreaking,' Carlos Watson said. 'We talked to advertising partners, some of our readers, some of our viewers, some of our listeners, some of our investors, I think Ozy is part of this moment' More details: Please go away
Source: THR - 🏆 411. / 53 Read more »
Ozy Media CEO Says Company No Longer Shutting Down: ‘This Is Our Lazarus Moment’The embattled digital media company is reversing course and will no longer shut down amid newly surfaced allegations about possible fraud and poor business practices. Khi nên cười, con thấy thật hạnh phúc. really? so who's your Jesus? thanks
Source: Forbes - 🏆 394. / 53 Read more »
Ozy Media Not Shutting But “Open For Business” Says Carlos Watson; Takes Dig At Sharon OsbourneEmbattled Ozy Media continues to make headlines as founder-CEO Carlo Watson told the Today show that the company is not in fact shutting down as it had previously announced in the wake of a fast un… What Lmaoooooo the scammers never go down silently do they?
Source: DEADLINE - 🏆 109. / 63 Read more »
Ozy Media CEO says company is still in business: ‘This is our Lazarus moment’Ozy Media is still operational despite initially announcing it was shutting down last week following a critical report about its alleged business practices.
Source: TODAYshow - 🏆 389. / 55 Read more »