It took almost a month longer than expected, but the Civil Court of Amsterdam has finally ruled in the case PSG Equity had filed against Pieter Vos.
The CEO and co-founder of Rodeo Software, an Amsterdam-based SaaS-startup in project management, has allegedly taken off with millions of investment money.
Wednesday, the Amsterdam court ruled and awarded PSG Equity damages worth around €63M, excluding interest and legal fees, to be paid up by Pieter Vos.
The Boston-heaquartered VC had acquired a stake in Rodeo of almost 31 per cent in the company.
After the disappearance of Vos last year, shareholders conducted an investigation and interviewed employees. Salaries hadn’t been paid for months.
Rodeo deal with Alphabet
With Vos at the helm, Rodeo had, according to court documents, tricked PSG and the shareholders into thinking the software company had a large deal with Alphabet, a mobility company owned by a BMW daughter. When asked, none of the employees had ever seen a contract or been in contact with at Alphabet.
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