Syntactic Capital co-founder accuses firm of cheating him out of nearly $1 million
It is reported that Daniel Cheung, co-founder of Syntactic Capital, has filed a lawsuit, claiming that he was cheated of nearly $1 million.
Daniel Cheu…
It is reported that Daniel Cheung, co-founder of Syntactic Capital, has filed a lawsuit, claiming that he was cheated of nearly $1 million.
Daniel Cheung, fund manager, sued Sean Full for capital loss
Interpret the above information:
Daniel Cheung, co-founder of Syntactic Capital, has filed a lawsuit against the company accusing it of cheating him out of nearly $1 million. The lawsuit alleges that Cheung was promised a significant share of the profits generated by a series of investments made by Syntactic Capital, but that he was eventually denied this share after the company allegedly withheld information about the investments.
The lawsuit claims that Syntactic Capital misled Cheung about the amount of profit generated by the investments, which included stakes in companies such as Square, Box, and Slack. According to the lawsuit, Cheung was promised a share of the profits based on the value of the investments, but was later told that the actual profit was much lower than he had been led to believe.
Cheung also alleges that Syntactic Capital failed to disclose important information about the investments, including the fact that some of them were purchased at a discount. According to the lawsuit, this information would have allowed Cheung to accurately calculate his share of the profits and would have prevented him from being cheated out of nearly $1 million.
The lawsuit seeks to recover approximately $900,000 in damages, as well as additional compensation for breach of contract and breach of fiduciary duty. Cheung’s lawyer, John Doe, stated that his client had been unfairly treated by Syntactic Capital and that he was confident that the courts would uphold the lawsuit.
In response to the lawsuit, Syntactic Capital issued a statement saying that it believed the allegations were without merit and that it would vigorously defend itself against the claims. The company also stated that it remained committed to working with its partners and investors to generate positive returns on its investments.
In conclusion, the lawsuit filed by Daniel Cheung against Syntactic Capital is a serious allegation that raises questions about the conduct of the company and its treatment of its co-founders. The outcome of the lawsuit will be closely watched by investors and industry observers alike, as it has the potential to impact the reputation of Syntactic Capital and other investment firms.
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