Ozy Media Inc. is suing Semafor Inc. co-founder Ben Smith and BuzzFeed Inc. for using Ozy’s trade secrets for commercial gain in creating news website, Semafor, based on Ozy.
Ozy’s lawsuit, filed in the US District Court for the Eastern District of New York, alleges that Smith reverse-engineered and deployed the company’s proprietary information to create Semafor “in knowing and direct violation of a mutual nondisclosure agreement” that Ozy and BuzzFeed signed when they were discussing a potential acquisition in 2019. Smith was editor-in-chief of BuzzFeed News at the time, and played a critical role in those discussions, according ...
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