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Getaround’s Alleged Earliest Investor Files Suit for Alleged Fraud Against the

Carsharing Company, CEO Sam Zaid, CFO Adam Kosmicki

The lawsuit alleges ride-sharing startup Getaround deceived its earliest investor into selling shares
to CEO's friends and family at below-market price.

San Francisco, CA, January 15, 2019 --(PR.com)-- The San Francisco law firm, Gaw | Poe LLP, has filed
a lawsuit against Getaround Inc., its CEO and co-founder, Sam Zaid, and its CFO, Adam Kosmicki. The
lawsuit alleges that these defendants fraudulently deceived Getaround's earliest outside investor into
selling his Getaround shares to Mr. Zaid's family and friends for $1.785 million less than what those
shares were worth.

The lawsuit alleges: when the plaintiff was approached by investors interested in purchasing his
Getaround shares, Mr. Zaid and Mr. Kosmicki provided detailed information about the company and its
prospects to help plaintiff and his interested buyers value his shares; the plaintiff, relying on that
information, agreed to sell his shares for $1.80 per share; thereafter, Getaround closed a Series C-1
financing round priced at $7.75 per share and announced a major strategic partnership with Uber; these
highly material facts were intentionally concealed from plaintiff and his interested buyers.

The lawsuit alleges that Mr. Zaid and Mr. Kosmicki, after misleading plaintiff into selling his shares at
$1.80 per share, directed Getaround to exercise its right of first refusal to acquire those shares, and then
assigned them to Mr. Zaid's father, brother, and friends, and to Getaround's CTO's father. The lawsuit
further alleges the purpose and effect of this conduct was to instantly enrich Mr. Zaid's family members
and friends at plaintiff's expense.

“Our client supported Getaround and Mr. Zaid from the very start, only to be swindled out of $1.785
million that went straight into the pockets of Mr. Zaid's family and friends, as we allege,” said Samuel
Song, plaintiff's attorney and a partner at Gaw | Poe LLP. “Our client deserved better than this from a
person he had supported and trusted for years, and we'll do what it takes to get what rightfully belongs to
him,” he added.

The lawsuit alleges claims for fraudulent concealment, aiding and abetting and civil conspiracy to
defraud, securities fraud and insider trading in violation of California statutory law, and unjust
enrichment. The case is captioned Geoffrey Shmigelsky v. Getaround, Inc., et al., Case No.
CGC19572740, and is filed in the Superior Court for the State of California, County of San Francisco.

About Gaw | Poe LLP

Gaw | Poe LLP is a boutique law firm with offices in San Francisco and Orange County. Focusing on
business and antitrust litigation, among the firm's achievements is a $44.4 million jury verdict against a
cigar manufacturer, which was the 37th largest verdict in the United States for 2016. Those interested in
learning more about this action or Gaw | Poe LLP's services may visit http://www.gawpoe.com.

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Contact Information:
Gaw | Poe LLP
Samuel Song
415-766-7451
Contact via Email
www.gawpoe.com

Online Version of Press Release:


You can read the online version of this press release at: https://www.pr.com/press-release/774406

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