Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
Data analytics and security company Palantir Technologies must open its books to early investor Marc Abramowitz, who wants to investigate possible fraud and mismanagement at one of the most highly valued private U.S. companies, a judge ruled on Thursday.
Abramowitz sued the secretive company, known for helping the U.S. government track down al Qaeda leader Osama bin Laden, after a 2015 falling out with Alexander Karp, the company's chief executive officer.
The lawsuit alleged that Palantir wrongly barred Abramowitz and others from selling stock in the privately owned company, while permitting sales by Karp and Chairman Peter Thiel.
Joseph Slights of the Delaware Court of Chancery ruled that Abramowitz demonstrated "a proper purpose of investigating potential wrongdoing and a credible basis to justify further investigation."
Palantir and a lawyer for the company did not immediately respond to requests for comment.
Palantir, considered one of the most secretive firms in Silicon Valley, does highly confidential work for U.S. defense and intelligence agencies, helping them track down terrorists and uncover financial fraud.
The company raised $880 million in funding in 2015 and was estimated to have a valuation of about $20 billion at that time.
Abramowitz, through the KT4 Partners fund he manages, invested an initial $100,000 in Palantir in 2003, which, after subsequent investments, is estimated to be worth $60 million, according to Slights' 50-page opinion.
Abramowitz enjoyed a close relationship with Karp until 2015, when Karp "verbally abused" Abramowitz and accused the investor of stealing Palantir intellectual property, according to the opinion.
Soon after, Abramowitz tried to sell his Palantir stock, but he alleged that the company blocked the deal by offering the potential buyer newly issued stock instead, the ruling said.
Abramowitz began demanding information from Palantir as he considered suing the company for blocking the sale of his stock. In response, Palantir sued Abramowitz in September 2016 for allegedly stealing trade secrets, according to Slights.
In March, Abramowitz brought his Delaware case.
Palantir had argued that Abramowitz should be denied information because he was likely to use it to build his lawsuit over the blocked sale.
Slights ruled that Abramowitz could investigate Palantir's lack of annual meetings, corporate amendments that limited KT4's rights and the company's sales of stock. But the judge would not allow Abramowitz to probe Palantir's valuation or Karp's compensation.