Shot themselves in the foot methinks. But I'm surprised Basho was going through $1.5 million a month. Seems a tad excessive.
Basho investor to pay up $20m in damages for campaign that put biz on 'greased slide to failure'
An investment fund and its manager have been ordered to pay up $20.3m after "misinformation, threats and combative behaviour" helped put NoSQL database biz Basho on a "greased slide to failure". As reported by The Register, the once-promising biz, which developed the Riak distributed database, faded away last year amid severe …
COMMENTS
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Tuesday 10th July 2018 09:29 GMT Anonymous Coward
Re: Good Luck
The judgement is against Georgetown and Davenport jointly and severally - which means the plaintiffs can recover the money in full from either party. Even if Georgetown has been wound up, the plaintiffs should still be able to recover from Davenport, if he has assets.
We don't know yet whether the defendants plan to appeal the finding
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Monday 9th July 2018 14:59 GMT Pascal Monett
Chester Davenport
To think that he is apparently a Distinguished Service Scroll Winner and got honors at a law school.
Looks like he was just pond scum looking to gain shark status.
Failure across the board, I say.
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Tuesday 10th July 2018 07:44 GMT Doctor Syntax
Re: People worked at Basho
"the taxman will get the scraps."
If that's so the US taxmen have a lot to learn. In the UK they're usually first in line, then secured creditors then anybody else. True the line will form behind the lawyers but even then the taxman will be looking at what they take.
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Tuesday 10th July 2018 09:14 GMT Alan Brown
Interesting because Delaware
Delaware is extremely corporate-friendly, which is why do many companies are incorporated there. In order to get a ruling like this the bad behaviour really does have to go beyond the pale.
It's going to be interesting to see what happens next. This kind of judgement effectively means that Georgetown - and Chester Davenport in particular will become untouchables.