So­ma­Log­ic, co-founder of ac­quired com­pa­ny bat­tle in court over un­vest­ed stock

Pro­teomics biotech So­ma­Log­ic and the co-founder of a com­pa­ny it bought last year are su­ing each oth­er in sep­a­rate court bat­tles play­ing out in Col­orado and Cal­i­for­nia.

The cas­es re­volve around the em­ploy­ment of Ash­win Gopinath, a co-founder of Palamedrix, which was bought by So­ma­Log­ic a year ago in a $35 mil­lion deal, in­clud­ing $14 mil­lion in cash and $21 mil­lion in So­ma­Log­ic stock. The com­pa­nies had al­so agreed on an ad­di­tion­al $17.5 mil­lion in mile­stone con­sid­er­a­tions to the three Palamedrix founders, set­ting dead­lines in 2027 and 2028 for cer­tain sales-based mile­stones.

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