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Amid scandal ridden week, Ozy Media has been sued by its investors (one so far)

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Lifeline Holdings which is understood to control about $500m for mostly Black clients is out for the jugular. According to court filings discovered, the company has been revealed as one of many investors that were duped by Ozy and its fraudulent management team. That amount reportedly comes out to about $2M per the filing.

The company is seeking punitive damages plus its original investment back from the company. It is the latest blow to the struggling media agency who just last week was essentially a tech darling.

It’s expected that the blows will keep coming for the company especially considering it apparently decided to stay in business. The New York Times and its original bombshell reporting appear to be what led to its downfall.

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By SHK

Loves coffee; cute animals, and the world around us. I serve as the Editor-in-Chief and the President of the companies in which own Bazaar Daily News. Follow me on Twitter @HaleemKhane for more amusing updates. *I do not discuss my own political views for obvious reasons*

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