Venture capitalist Dr Adir Shiffman is set to go to trial against the Young Rich List founders of mattress e-tailer Sleeping Duck. He claims he was shut out of the business in a $60 million battle that exposes the perils of angel investment.
“I am never a passive investor, not my style,” Dr Shiffman wrote to the founders in January 2018, court documents show. The shareholders included the sole-director companies of the founders’ wives, Sibani Nirula and Stacey Lobo. Dr Shiffman claims he was progressively excluded from the company, including rebranding, website redesigns and extensive marketing campaigns. He also objected to the pricing of the new Mach II product, court documents reveal.
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