The Victorian government’s troubled venture capital fund Breakthrough Victoria faces a multi-million dollar legal battle.
Dr Freestone’s claim, lodged in the Federal Court of Australia, alleges the John Brumby-led fund and one of its officers coerced him into signing a deal to dilute his own equity in the start-up he co-founded, Seer Medical, which provides in-home epilepsy diagnostic technology.
“Taking those actions against would have been unlawful, unconscionable or illegitimate,” the claim alleges. Seer was forced to cut about a third of its estimated 270 staff as part of a restructuring deal that included emergency capital from the Victorian government.that Breakthrough Victoria chief executive Grant Dooley had resigned from the $2 billion fund, with the Victorian Liberals urging former premier and chairman Mr Brumby to also stand down, amid an overhaul of the board.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘It’s just the start’: Former Australia swimming boss behind USA rugby’s Olympic breakthroughExperienced sports official Tamara Sheppard has high hopes for United States rugby sevens after women’s team snatched bronze at Paris 2024
Read more »
Steven James Alan Dean sentenced over murder of mother-of-two Emmerich Laseker in Kewdale, Perth7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Dean Phillips calls on Democrats to hold ‘immediate vote of confidence’ on BidenLawmaker who unsuccessfully challenged Biden in primary says fear of retribution stops some from speaking publicly
Read more »
Shock as Sydney Swans assistant Dean Cox turns back on West Coast7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Dean Cox to stay in Sydney and reject lure of coaching old club West Coast EaglesWest Coast club legend Dean Cox rules himself out of the running for the Eagles vacant coaching role, opting instead to stay in Sydney with the Swans.
Read more »
Breakthrough for babies with peanut allergies in world-first treatment program at Australian hospitals7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »