October 7, 2014 | US billionaire and Powermat investor and board member J. Christopher Burch will sue Powermat and the company’s CEO Ran Poliakine for unlawful management practices. According to the plaintiff, Poliakine and three unnamed board members carried out suspicious activities as part of their management of the company, including failure to report personal involvement in dealings to the board and presenting incomplete and false data to the board, with the goal of collecting personal profits. Burch became an investor in the company responsible for the creation of wireless charging technology in 2007, investing $6.6 million in the period from 2007-2010 according to forecasts presented to him and other investors that were complementary of the company. The company, Powermat, has yet to receive the suit.
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