Peter Thiel, Palantir Co-Founders Slam ‘Emperor for Life’ Claims
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Billionaire Peter Thiel and his Palantir Technologies Inc. co-founders fired back in Delaware on Friday at claims that their “class F” stock—a “flexible” security with voting power adjusted to give them a 49.99% say in any decision—illegally made them the company’s “emperor for life.”
Board chairman Thiel, CEO Alexander Karp, president Stephen Cohen, and the company filed a summary judgment motion in Delaware’s Chancery Court, defending rather than denying the supervoting shares. They didn’t previously seek to have the case dismissed without discovery, as most defendants do.