Janus Friis and Niklas Zennstrom’s Joost and Joltid today announced and filed a lawsuit against Michaelangelo Volpi, Joost’s former president, CEO and chairman; and his current private equity firm and Joost investor, Index Ventures. The suit claims that Volpi and Index breached fiduciary duty, interfered with prospective business advantage, misappropriated trade secrets, breached contracts, breached confidence, and committed civil conspiracy.
The gist of the lawsuit is that Volpi learned how to modify Joltid’s proprietary software to run on the web without the aid of a peer-to-peer software when he was transitioning Joost from a peer-to-peer service to a web-based Hulu clone. And with this knowledge, he was able to pitch a version of Skype that buyers could take over from eBay while side-stepping ongoing litigation.
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