Source: The Information
Summary
Fizz has expanded its lawsuit against Sidechat, alleging that a Maveron VC shared confidential information obtained during a fundraising meeting with the competing startup. The lawsuit claims that the VC, who is not named, disclosed Fizz’s confidential information to Sidechat’s CEO, who then used it to gain a competitive advantage. Fizz is seeking damages and an injunction against Sidechat. According to the lawsuit, the VC had signed a non-disclosure agreement before the meeting.
Our Reading
The announcement sounds ambitious.
Fizz sues Sidechat, alleging a Maveron VC spilled the beans. Because what’s a little NDA between friends? Confidential info shared, advantage gained – just another day in startup land. Fizz wants damages and an injunction, but let’s be real, the real damage is to the VC’s reputation. The question is, how many more “oops” moments will it take for VCs to remember: NDAs are not suggestions?
Author: Evan Null
