OpenWeb is pleased with the court's decision to reject the unfounded claims made by Nadav Shoval. This ruling allows us to move forward without distractions, fully focused on our mission to create a web that's safe for users, profitable for publishers, and fair for advertisers.
The board has falsely stated that I am stepping out of my role as CEO. I contest the board's improper termination process, which I believe violated company bylaws.
This ruling marks the latest twist in a stunning turn of events for OpenWeb, which was most recently valued at $1.5 billion after raising $170 million in Series F funding.
The controversy at OpenWeb erupted publicly when the company emailed its employees stating that chairman Tim Harvey would replace Shoval, prompting his firm denial of any intentions to step down.
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