Palantir holder says company sabotaged stock sale to Chinese

Palantir holder says company sabotaged stock sale to Chinese

Alex Karp co-founder and CEO of Palantir Technologies speaks at the WSJD Live conference in Laguna Beach, California, U.S., October 26, 2016. REUTERS/Mike Blake

One of Palantir Technologies Inc.’s early investors accused the data-mining startup of sabotaging his attempt to sell his $60 million stake to a Chinese company so directors and executives could enrich themselves by selling their stock instead.

Marc Abramowitz, a 63-year-old lawyer and investor, contends that when Palantir executives got wind of his offer to sell his stock to Chinese private equity firm CDH Investments Fund Management Co., they sunk the deal by offering to sell their shares to CDH instead, according to a lawsuit filed Thursday in Delaware.

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