Former Oura CEO sues company for allegedly withholding 5% equity

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Former Oura Health CEO Harpreet Singh Rai has sued the smart ring maker in a California federal court, alleging wrongful termination and breach of contract. Rai says the company removed him to avoid granting him equity worth millions of dollars.

Rai’s lawsuit comes at a time when Oura is already grappling with multiple legal battles worldwide. The company is currently embroiled in disputes with Ultrahuman in both the United States and India, and was also sued by its former promoters and early investors in July this year.

According to the complaint,…



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Former Oura CEO sues company for allegedly withholding 5% equity


Former Oura Health CEO Harpreet Singh Rai has sued the smart ring maker in a California federal court, alleging wrongful termination and breach of contract. Rai says the company removed him to avoid granting him equity worth millions of dollars.

Rai’s lawsuit comes at a time when Oura is already grappling with multiple legal battles worldwide. The company is currently embroiled in disputes with Ultrahuman in both the United States and India, and was also sued by its former promoters and early investors in July this year.

According to the complaint,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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