Palantir Investor Says Company Sabotaged Stock Sale to Chinese
- Marc Abramowitz says Palantir execs substituted own shares
- Suit is latest salvo in skirmish between Palantir, Abramowitz
Photographer: Yuriko Nakao/Bloomberg
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One of Palantir Technologies Inc.’s early investors accused the data-mining startup of sabotaging his attempt to sell his $60 million stake to a Chinese company so directors and executives could enrich themselves by selling their stock instead.
Marc Abramowitz, a 63-year-old lawyer and investor, contends that when Palantir executives got wind of his offer to sell his stock to Chinese private equity firm CDH Investments Fund Management Co., they sunk the deal by offering to sell their shares to CDH instead, according to a lawsuit filed Thursday in Delaware.