Energy Monster, China’s biggest mobile device power bank startup backed by Alibaba and SoftBank, is embroiled in an ownership dispute that could further cloud a Nasdaq flotation already buffeted by new U.S. regulations to delist foreign companies.
Two Shanghai-based venture capitalists are pressing a case through both U.S. and Chinese courts against Energy Monster Chief Executive Guangyuan Cai, claiming he reneged on a deal to give them a joint 3% stake in the business.
