Community.com Inc.'s CEO allegedly misrepresented the company’s finances and negotiations for additional funding to convince two founders to sell back their shares, according to a complaint filed in California federal court.
Charles Buffin and Max Levine founded the technology company, whose app allows clients such as Ashton Kutcher, Jennifer Lopez, and John Legend to text fans, and brought Matthew Peltier on board as CEO. The pair left Community in 2017 but retained hundreds of thousands of shares until Peltier convinced them to sell some back in 2018, the complaint filed Thursday in the U.S. District Court for the Central District ...
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