23andMe has appointed three new independent directors—Andre Fernandez, Jim Frankola, and Mark Jensen—following the abrupt resignation of all seven previous directors due to disagreements over the company's strategic direction. The new board members will serve on the audit and compensation committees, with Jensen as the lead independent director. The company has faced challenges since going public in 2021, including a significant drop in stock value, prompting discussions about taking the company private.
Phil Libin, co-founder of Evernote, remained an investor as the app stagnated and was acquired by Milan-based Bending Spoons SpA. This firm, resembling a new breed of private equity for the app generation, has also acquired WeTransfer and the assets of Meetup, expanding its portfolio significantly.
A strip mall mogul, Jonathan Larmore, was convicted in New York for orchestrating a fraudulent $77 million tender offer for WeWork Inc. just before the company's bankruptcy filing in November 2023. Following a weeklong trial, he faces up to 20 years in prison for each count of fraud and securities fraud.
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