Tag: Drama
Uber Eats, Grubhub, DoorDash sue NYC for limiting fees the apps can charge restaurants
Food ordering and delivery platforms DoorDash, Caviar, Grubhub, Seamless, Postmates and Uber Eats have banded together to sue the City of New York over a law that would permanently limit the amount of commissions the apps can charge restaurants to use their services. The Wall Street Journal first reported the…
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The SEC and the DOJ just charged this startup founder with fraud, saying he lied to Tiger and others
Today, both the U.S. Department of Justice and the Securities and Exchange Commission charged Manish Lachwani, cofounder of a mobile app testing company Headspin, with fraud. The SEC says he violated antifraud provisions and the civil penalties it’s seeking include a permanent injunction, a conduct-based injunction, and an officer and…
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Nobody wins as DoD finally pulls the plug on controversial $10B JEDI contract
After several years of fighting and jockeying for position by the biggest cloud infrastructure companies in the world, the Pentagon finally pulled the plug on the controversial winner-take-all $10 billion JEDI contract today. In the end, nobody won. “With the shifting technology environment, it has become clear that the JEDI…
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Department of Justice opens investigation into EV startup Lordstown Motors
Lordstown Motors continues to stumble. The beleaguered electric vehicle startup is now being investigated by the Department of Justice, in addition to an ongoing investigation by the Securities and Exchange Commission. The investigation, first broke by the Wall Street Journal on Friday, is still in its early stages, according to…
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Activist investor Starboard Value makes official bid for Box board seats in letter
Last week activist investor Starboard delivered a public letter rebuking the company for what it perceives as under performance. Today the firm, which owns 8% of Box stock, making it the company’s largest stock holder, took it a step further with an official slate of four candidates it will be…
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Basecamp sees mass employee exodus after CEO bans political discussions
Following a controversial ban on political discussions earlier this week, Basecamp employees are heading for the exits. The company employs around 60 people, and roughly a third of the company appears to have accepted buyouts to leave, many citing new company policies. On Monday, Basecamp CEO Jason Fried anounced in…
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