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Civil Litigation

Jun. 11, 2024

Insurtech co-founder faces tough task proving losses related to IPO non-disclosure

Eyal Navon alleges that his co-founder and an advisor conspired to intentionally "cut him out" of capitalizing on the company's March 2021 merger and public IPO launch for $5 billion.

A San Francisco judge on Friday expressed doubt that the co-founder of Hippo Enterprises, Inc., an Insurtech company, will be able to prove that he lost at least $15 million in prospective stock sales based on claims that he was deceived into selling some of his stock for a fraction of its value by Hippo's CEO and an executive for one of the company's largest institutional investors' Innovius Capital LLP.

The dispute stems from plaintiff Eyal Navon's claims that As...

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