German Firm Sues Israeli Startup Sellers Over Alleged Misrepresentation
Translated & summarized from TheMarker by baba
German cybersecurity firm Link11 acquired Israeli startup Reblaze in January 2024 for $18.5 million. Link11 is now suing the sellers in Tel Aviv District Court, alleging misrepresentation and seeking to avoid a $2 million payment. The company claims it suffered $9 million in damages due to hidden information and false statements discovered post-acquisition.
The story in 5 lines · by baba
- German firm Link11 is suing Israeli startup Reblaze sellers for alleged misrepresentation.
- Link11 seeks to avoid a $2 million payment from the $18.5 million acquisition deal.
- The company claims $9 million in damages due to hidden information and false statements.
- The acquisition of Reblaze by Link11 was completed in January 2024.
- The lawsuit is being heard in the Tel Aviv District Court.
German cybersecurity firm Link11 is suing the sellers of Israeli startup Reblaze, alleging misrepresentation and seeking to be released from a remaining payment of approximately $2 million. The deal, which closed in January 2024, was valued at $18.5 million, with $16.5 million paid to Reblaze shareholders to date.
Link11 claims it discovered material information was hidden and that false representations were made, which it only uncovered after the acquisition was finalized. The company asserts these deceptions caused it $9 million in damages. The lawsuit is proceeding in the Tel Aviv District Court.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Other 2
