Oura Ring Sued by Marketing Service Over Revoked Stock Options

Health tech company Oura Ring Inc. was hit by a lawsuit from a marketing services provider and investor who alleged the firm failed to honor his stock options that are worth more than $16 million.

Gurinder Bal and his company CTR Capital said that despite launching a successful marketing campaign that resulted in the sale of tens of thousands of Oura Ring health tracking devices, the company had refused to uphold its contractual obligations to grant the stock options, according to the Tuesday complaint.

Oura Ring, a Finnish company with a US subsidiary in San Francisco, has reached half a ...