News Formal

Dozens of BuzzFeed employees sue company over botched IPO

  • 📰 axios
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Dozens of current and former BuzzFeed employees have sued the company alleging that its mismanaged IPO cost them millions of dollars, according to copies of two separate complaints obtained by Axios.

Why it matters:

The second complaint's claimants are mostly former writers and other members of the BuzzFeed editorial staff. Sources tell Axios that Continental is still BuzzFeed's transfer agent, and that Continental has yet to be served either complaint. Continental declined to comment on the pending legal action.The first complaint represents 44 former and current BuzzFeed employees with 400,000 company shares. It says BuzzFeed collectively owes them more than $4.6 million in damages.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 302. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SF Tech Company Helps Ukrainian Employees Flee to SafetySan Francisco-based company Just answer is helping over 200 employees in the Ukraine flee to safety.
Source: nbcsandiego - 🏆 524. / 51 Read more »