Denver startup founder facing fraud lawsuit
An investor in a Denver startup acquired last year is suing the company’s cofounder and former CEO over claims that he misled investors in a Series C round of funding.
BusinessDen.com reports that World Total Return Fund is suing UrgentRx founder Jordan Eisenberg for fraud in Denver District Court. WTRF had invested $850,000 in the $19.5 million funding round in 2014 before UrgentRx spent $15 million of that and was sold in 2015, with WTRF getting no cash in return. UrgentRx made powdered packets of over-the-counter medicines.
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An investor in a Denver startup acquired last year is suing the company’s cofounder and former CEO over claims that he misled investors in a Series C round of funding.
BusinessDen.com reports that World Total Return Fund is suing UrgentRx founder Jordan Eisenberg for fraud in Denver District Court. WTRF had invested $850,000 in the $19.5 million funding round in 2014 before UrgentRx spent $15 million of that and was sold in 2015, with WTRF getting no cash in return. UrgentRx made powdered packets of over-the-counter medicines.