Investors who purchased startup securities in LifeVoxel.AI Inc. failed to show fraud by the medical records technology company and its two founders, a federal court ruled.
The plaintiffs fell short in alleging claims under Virginia, Delaware, California, and federal law, the US District Court for the Southern District of California said.
Four individuals and a specialized investment company, LifeVoxel Virginia SPV, said they lost more than $3.5 million by investing in LifeVoxel.AI simple agreements for future equity, or SAFE notes. Other investors’ losses brought the total to $5 million, they said, though they didn’t sue on behalf of a proposed ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.