The latest issue of PE Week features a scoop by our reporter, Alexander Haislip, who delves into the legal bind that VC-backed NetPickle finds itself in. Company founders Lance Tokuda and Jia Shen, who raised about $1.5 million from Sequoia Capital and others, are accused of code theft, misuse of company time, and failing to abide by employment contracts from their former employee Iconix.
Many of you reading peHUB.com last week have already been teased with this story, which uncovers the fact that VCs agreed to back the company after Iconix filed legal action against NetPickle. PE Week subscribers can read the story here.
Also in the Nov. 20, 2006 issue is another story by Haislip as he reports on RWI Ventures and their fund-raising progress.
That and more in PE Week.