Investor Says Babylon CEO Too Late To Buy Back Stake

Law360, London (September 8, 2020, 7:00 PM BST) -- An investment vehicle that helped fund a high-profile U.K. health technology company has hit back at a lawsuit brought by the owner, arguing the entrepreneur didn't have the right to buy back its stake in the government-promoted app.

Investor Hanging Gardens Ltd. said in new court documents that Babylon Health chief executive Ali Parsadoust is not entitled to the millions of pounds' worth of damages he claims because his exercise of options to buy back shares in the company was invalid under a revised oral agreement.

Parsadoust alleges in his suit that Hanging Gardens, which is incorporated in the British Virgin Islands, has...

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