Snapchat was sued Wednesday in Los Angeles by an ex-employee who alleges he was fired after resisting attempts to falsely represent its value in advance of plans to take the company through a multibillion-dollar initial public offering.
Anthony Pompliano alleges his refusal to “participate in Snapchat’s institutional pandemic” of misleading investors and trading partners resulted in the loss of his job three weeks after he was hired away from Facebook to run Snapchat’s new-user growth and engagement team.
A Snapchat representative did not immediately reply to a request for comment on the Los Angeles Superior Court lawsuit.
Pompliano seeks an injunction directing Snapchat to refrain from making misrepresentations about his firing pending the outcome of arbitration proceedings in which he seeks damages.
The suit — many paragraphs are partially or completely blacked out — alleges Pompliano was “fraudulently induced” to leave Facebook, described in the complaint as “a spurned suitor turned fierce competitor” of Snapchat.
“Snapchat’s leadership saw Mr. Pompliano as an impediment to their planned IPO because he refused to turn a blind eye to Snapchat’s misrepresentations,” the suit alleges.
“Indeed, Snapchat accurately perceived that Mr. Pompliano would blow the whistle” should the company continue to make misrepresentations to the public, private investors and advertisers in connection with its planned IPO, the complaint alleges.
The suit also alleges Snapchat executives hired Pompliano to obtain confidential data from Facebook and pressured him to reveal such information even though he warned them that he had signed confidentiality agreements with his former employer.
–City News Service
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