Stability AI Co-Founder Sued CEO for 10 Percent of the Company

vice.com

19 pointssimantel2 comments

> The complaint was filed on May 18 in a Virginia district court where Waseem is based; Stability AI is incorporated in Delaware and the United Kingdom. The complaint was dismissed voluntarily by Waseem’s counsel on the same day that it was filed. Counsel for Waseem, as well as Mostaque and Stability AI, did not immediately respond to Motherboard’s request for comment.

This seems super weird (at least for someone who doesn't know how these dealings work). Any idea on why it might be filed and dismissed voluntarily in the same day?

Perhaps they reached an out-of-court settlement? That said, here's the listing of people with significant control in the UK

https://find-and-update.company-information.service.gov.uk/c...

It has Mostaque as having 75% "or more" and no other directors or people with significant control are listed. Waseem would have to be listed as a PSC if he held the other 25%[1] so if he has equity, it's less than that.

[1] https://www.gov.uk/guidance/people-with-significant-control-...

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