Daily Management Review

TON investors demand tens of millions in damages from Telegram's founder


Da Vinci Capital's investors have sent Pavel Durov a notice of intent to file a lawsuit (letter before claim) against TON Inc. and Telegram Inc., Forbes has learned. They are demanding damages for the failed project. If compensation is refused, the investors will file a lawsuit in London within two weeks.

Dan Taylor
Dan Taylor
In late February, lawyers for the Da Vinci Capital fund sent Telegram founder Pavel Durov, Telegram vice president Ilya Perekopsky and other TON top executives and lawyers, a notice of intent to sue TON Inc. and Telegram Inc., a source close to the fund told Forbes. 

The letter demands compensation of about $100 million in damages for the failed project, he said. This information was confirmed by an interlocutor familiar with several investors involved in the class action. Telegram has received such a letter, two sources close to the company's top management have confirmed, but the amount of claims in it is $20 million. However, Forbes does not know whether this is the only letter. 

The investors are giving Telegram two weeks to compensate for the damage and notify it of their intention to go to court in case of refusal, Forbes' source close to the fund said. 

According to him, the letter before claim is a letter drafted by lawyers, which the plaintiff sends before filing a lawsuit in court. The other party is given a final warning, sometimes it is a technical point, the letter is usually not a surprise, the Forbes interlocutor added.

source: forbes.com