In a 758-word letter, content of which was reviewed by TechCrunch, Raveendran claimed that the shareholders violated several “essential” local rules.
Raveendran claimed in the letter that the extraordinary general meeting lacked the minimum quorum and failed to win majority support for proposed resolutions.
Raveendran claimed the EGM was convened without adhering to the procedures set out by law and only 35 of Byju’s 170 total shareholders attended, representing around 45% ownership in the company.
The rights issue resets the startup’s valuation, once at $22 billion, to about $25 million.
“Our rights issue has seen an overwhelming response.
A coalition of international law enforcement agencies, including the FBI and the U.K.’s National Crime Agency, have disrupted the operations of the prolific LockBit ransomware gang.
LockBit’s dark-web leak site — where the group publicly lists its victims and threatens to leak their stolen data unless a ransom demand is paid — was replaced with a law enforcement notice on Monday.
“This site is now under the control of the National Crime Agency of the UK, working in close cooperation with the FBI and the international law enforcement task force, ‘Operation Cronos,’ the message reads.
The group last year claimed responsibility for attacks against aerospace giant Boeing, chipmaker TSMC, and U.K. postal giant Royal Mail.
Monday’s takedown is the latest in a series of law enforcement actions targeting ransomware gangs.
The startup claims it’s on the cusp of a superconductor breakthrough despite questionable scientific record No one really knows what makes superconductors so special, but some scientists say it has…
