Former Zocdoc CEO sues execs over 2015 ouster: 6 details

The co-founder and former CEO of Zocdoc sued his fellow co-founders for fraud and conspiracy to commit fraud in the Supreme Court of New York.

Six details:

1. On Sept. 8, former Zocdoc CEO Cyrus Massoumi filed suit against Nikhil Ganju, Oliver Kharraz, MD, and Netta Samroengraja, whom Mr. Massoumi recruited and hired to help him build the company. Zocdoc offers an online platform for individuals to search for physicians and book appointments.

2. Mr. Massoumi alleged that the defendants ousted him from his role as CEO based on "an elaborate series of lies and deceptions" and proceeded to take control of the company. He said the defendants told him a board of directors meeting in November 2015 would cover just routine matters and created fake presentations for the meeting where he was eventually ousted.

3. Mr. Massoumi retained his position as chairman of the board initially after losing his CEO role, but he was removed from the board on Dec. 18, 2015.

4. In the lawsuit, Mr. Massoumi contends his shares in the company have lost value since the defendants took over. Zocdoc has also lost 14 executives over the past few years. Under his leadership, Mr. Massoumi said the company achieved $71 million in revenue and 120 percent year-over-year revenue growth; it had a valuation of $1.8 billion when he was ousted.

5. With the lawsuit, Mr. Massoumi aims to invalidate the claims of fraud levied against him and seeks unspecified monetary damages.

6. Dr. Kharraz replaced Mr. Massoumi as CEO, a position he continues to hold today. Mr. Ganju remains with the company as a founder, and Ms. Samroengraja is chief business officer.

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