A lawsuit filed against Color Labs and its founder confirms the video-sharing firm’s rumoured acquisition by Apple and paints a disturbing portrait of the company's downfall. By Jason Ankeny
According to a complaint filed Monday in the US Courts on behalf of Adam Witherspoon, an early Color Labs staffer and shareholder, “the company failed” and “key assets” were sold to Apple for an undisclosed sum.
Witherspoon alleges that Nguyen “routinely humiliated, harassed, ridiculed, exploited and punished employees”. The suit also contends that Nguyen put a nanny and a ski instructor on Color’s payroll. The firm’s CFO Alyssa Solomon began investigating Nguyen’s “financial and other improprieties” in 2011, before she quit.
FierceMobileContent: Color shuts down, assets acquired by Apple, founder Nguyen targeted in lawsuit; TelecomTV content partner.
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