Filing: College app Fizz accuses VC of sharing confidential startup information with rival Sidechat
The social app Fizz has accused venture capitalist Jerry Lu of sharing confidential business information with its competitor, Sidechat. The legal filing alleges that Lu misused his position during investment discussions to benefit a rival firm.
A years-long lawsuit between the college-focused social app Fizz and rival Sidechat over unfair competition practices has taken an interesting turn. In a new filing, Fizz is accusing investor Jerry Lu of the venture capital firm Maveron of meeting with Fizz under the guise of exploring a potential investment, but then turning around and sharing Fizz’s non-public information with its rival, Sidechat.
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