Intermedia Labs Inc., the defunct company that ran the once-popular HQ Trivia mobile app, was hit with a Delaware records lawsuit seeking to probe its buyout by an unknown party at an unknown price, which was disclosed to investors only after the fact.
The Chancery Court suit accuses Intermedia CEO Rus Yusupov—a co-founder of the video-sharing service Vine, which was bought by Twitter in 2012 and shut down in 2017—of announcing in March that the company had been “acquired by a private investor in a very speedy transaction.”
The move came about six weeks after Yusopov sent a company-wide email ...
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.