New Charges Filed In Idealab Case

from the just-to-clarify... dept

The former Idealab investors who are suing Idealab have added new allegations to their suit against the company. The allegations mostly add more details to the accusations of gross corporate mismanagement by Idealab founder Bill Gross and President Marcia Goodstein (who is married to Gross). The accusations accuse them of funding three companies that had received personal investments from the head of their compensation committee, as a way to repay him for giving them a raise. That seems a bit farfetched, as there was plenty of “sharing” deals in the dot com days – and I don’t see that as being corporate mismanagement. More sketchy, however, are a series of loans from the company to Gross, Goodstein, and Gross’s brother.

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