Denver Ventures says ‘far-fetched’ lawsuit ‘nothing more than a smear campaign’
News Pub
Denver Ventures is asking a judge to dismiss a lawsuit by co-founder Paul Foley, calling it a smear campaign.Summary
Denver Ventures, formerly known as Denver Angels, has asked a judge to dismiss a lawsuit filed by co-founder Paul Foley. The lawsuit alleges a conspiracy to siphon value from Denver Angels for personal benefit. Denver Ventures' lawyers characterize Foley's claims as a "disgruntled minority member" who regrets approving a deal. The defendants argue that the license agreement merely allowed Denver Ventures to use the brand for a new fund. Foley claims the once-thriving firm is now worthless. The defendants, including Kenneth Monfort, David Prichard, and Zachary May, argue they cannot be sued because their entities made the decisions. The legal battle seeks eight figures in damages.
(Source：News Pub)