Founder of Shark Tank-backed startup Scholly sues his acquirer Sallie Mae
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2 min readKey summary
Chris Gray, founder of Shark Tank-backed Scholly, sued Sallie Mae and filed an SEC whistleblower complaint.
He alleges Sallie Mae fired him after he raised student data privacy concerns and is selling Scholly user data through a subsidiary.
The complaint centers on whether an acquired startup’s user data can be monetized after privacy promises, especially when minors’ information is involved.
Sallie Mae denies the allegations.
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