Former Web Summit directors Daire Hickey and David Kelly could sell their company shareholdings in the morning but are driven by "greed", claim lawyers for CEO Paddy Cosgrave.
Web Summit CEO Paddy Cosgrave disseminated edited audio clips of his co-founder David Kelly in a bid to damage him, the High Court was told.
Web Summit's Paddy Cosgrave's wage package soared from €400k to €3m with another €7m of company money spent on legal fees, it is also alleged in minority oppression proceedings against the CEO.
Responding to claims of shareholder oppression, the clinical director of the 200-year-old north Dublin facility claims his uncle Denis Eustace, a retired consultant psychiatrist, has been “non-co-operative and, at times, positively disruptive”.
In a series of emails , minority Web Summit shareholders Daire Hickey and David Kelly complained to the board that they were being kept out of the loop after Cosgrave's controversial departure, and the ex-CEO appeared to be still "calling the shots".
Web Summit shareholder Daire Hickey alleges his interests have been further damaged by clients and speakers disassociating themselves from last week's Lisbon event. Hickey also takes aim at coverage of the conflict by The Ditch, the media outlet funded by the company during Cosgrave's tenure as CEO.
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