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German Firm Sues Israeli Startup Sellers Over Alleged Misrepresentation
German cybersecurity firm Link11 is suing former shareholders of Israeli startup Reblaze, which it bought for $18.5 million in January 2024, alleging they were misled about a major client. Link11 claims it was assured of a long-term contract with Marktplaats, but the client later decided not to renew.
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What happened
- 01German firm Link11 is suing Reblaze shareholders for $9 million over alleged deception in a $18.5 million January 2024 acquisition.
- 02Link11 claims sellers misrepresented the long-term commitment of major client Marktplaats, which later terminated its contract.
- 03The lawsuit was filed in the Tel Aviv District Court against 29 shareholders, including Reblaze co-founders.
- 04Shareholders deny the claims, calling the lawsuit an attempt to evade full payment.
- 05Link11 also cited inflated metrics, billing errors, and incomplete documentation as reasons for the suit.
The German company estimates its damages at $9 million. The sellers deny the claims, stating the buyer is trying to avoid full payment.
The coverage
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How it broke
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