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☆ At unicorn startup Carta, a culture of absolute fealty to an erratic and vindictive CEO, employees say
▼ + stars: | 2023-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +17 min

Both men remained valued employees at Carta, with the sales representative even getting promoted just weeks after the alleged "helicopter penis" incident, according to former employees. CEO Henry Ward cofounded Carta, originally called eShares, in 2012 as a service for startups to digitize their paper stock certificates. Today Carta helps startups track their investors, employees manage their equity awards, and venture capitalists administer their funds. The lawsuit says that 10 days after Rogers filed her complaint, Ward "began treating Ms. Rogers in an aggressive and demeaning manner during several meetings." Many of the employees who have spoken out publicly about Carta and Ward have found themselves embroiled in expensive legal battles.

Persons: Lisa Whittaker, Whittaker, Jerry Talton, David Kim, Andrea Lamari, Kim, Henry Ward, Andreessen Horowitz, Ward, Henry, Alex Kurland, Carta, Peter Thiel, Simon Cowell, Talton's, Suzanne Elovic, Elovic, Lamari, Jeff Perry, Perry, salespeople, JT Goodman, Goodman, Goodman didn't, Jeff Perrry, Allie Rogers, Rogers, Rodgers, Rachel Mayes, Ward doesn't, Mayes, Jeff, Jeff Perry countersued, Orrick Herrington, Sutcliffe, Kleiner Perkins, Ellen Pao, Amanda Sheets, Sheets, Pushback, Lindauer, Whitaker, Whittaker wasn't, Barbara Byrne, Byrne, Talton, Joe Osnoss, Osnoss, Heidi Johnson, Johnson Organizations: Carta, UBS, Gold Club, Lightspeed, California Civil Rights Department, Meritech, YouTube, Win, York Stock Exchange, San, San Francisco Superior, San Francisco Superior Court, Barclays, Lehman Brothers, Montana Human Rights Bureau Locations: San Francisco, Brazil, Silicon Valley, California, Palo, Iranian, Lindauer, Silver, Montana

☆ Exclusive: Carta is suing yet another former employee to prevent the release of damaging recordings of its executives and board members
▼ + stars: | 2023-09-28 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

Tech unicorn Carta filed a lawsuit in the Northern District of California in August against its former Chief Product Officer Heidi Johnson, demanding she turn over secret recordings of the company's top executives and board members. It's the second time the company has gone to federal court in order to prevent the release of what it says are damaging recordings. In court documents reviewed by Insider, Carta states that Johnson was fired in November 2022 for having a "polarizing" management style and for taking unauthorized leave. Shortly after her termination, both Johnson and Talton filed complaints with the company's board raising issues about her firing and the conduct of CEO Henry Ward. Additionally, Carta is seeking monetary damages from Johnson for breach of contract with the amount to be determined at trial.

Persons: Carta, Heidi Johnson, It's, Johnson, Andreessen Horowitz, Jerry Talton, Talton, Henry Ward, Lindaur, Emily Kramer Organizations: Northern District of, Lightspeed, New York's Southern, Carta Locations: Northern District, Northern District of California, Silicon, New York's, New York's Southern District, Carta

☆ Exclusive: $7 billion tech unicorn Carta bet big on managing employee equity for public companies. Now it's telling them to get off its platform.
▼ + stars: | 2023-03-23 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

$7 billion unicorn Carta is officially retreating from its equity management software for public companies, according to multiple sources Insider has spoken to. Thousands of private companies use the platform to track company and employee ownership, process venture investments, and administer employee stock programs, among a slew of other services. Carta had seen the company through its 2017 public listing on the London Stock Exchange, helping its employees and shareholders navigate the complex world of public stock markets. Transfer agents are regulated entities that all public companies are required to use to track stock ownership. "I guess getting into the public markets is something that they sort of dipped their toe in and now want to withdraw," he said.

☆ Big banks to the rescue
▼ + stars: | 2023-03-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Goldman Sachs' decision to charge employees for coffee might not be that outrageous after all! The largest US banks — headlined by Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo — just pledged a total of $30 billion in deposits to First Republic Bank. As detailed in a release announcing the news, the 11 banks, which also included Goldman Sachs and Morgan Stanley, believe the move "demonstrates their overall commitment to helping banks serve their customers and communities. I can't imagine the big banks looking to pull the rug out from First Republic four months from now, but this money was a deposit, not a donation. Read more about how big banks came to the rescue of First Republic with $30 billion in deposits.

☆ Exclusive: Carta's fired CTO accuses CEO Henry Ward of deceiving regulators, abusing employees, and misappropriating funds
▼ + stars: | 2023-03-16 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +5 min

In a new legal filing Carta's former CTO accuses the company's CEO of a litany of misdeeds. New details have emerged in the ongoing lawsuit between $7 billion startup Carta and its former CTO Jerry Talton. Four days after submitting that letter, Talton was placed on administrative leave. On December 23, 2022, two months after sending his letter, Talton was fired and stripped of $10 million of unexercised stock options, according to Wednesday's filing. The legal filing claims that the company "invaded Talton's privacy and inserted these salacious elements in the complaint simply to malign him."

☆ Citadel joins a growing number of firms rolling out internships for undergrads looking for a fast track to the buy side
▼ + stars: | 2023-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Investment banks, you've been put on notice: The buy side is coming for your young talent. Insider's Emmalyse Brownstein has a full rundown on an undergrad internship at hedge fund Citadel for aspiring fund managers. The Citadel Associate Program (CAP) is a tough nut to crack, with an acceptance rate of only 1%. Click here learn more about Citadel's ultra-exclusive associate program, along with tips to get ahead during the application process. And if you're wondering who is left leading the world's largest hedge fund, look no further than our list of the fund's top 11 executives.

☆ $7 billion startup Carta has been embroiled in multiple lawsuits with former employees. Allegations in legal documents depict a CEO who can be retaliatory and volatile.
▼ + stars: | 2023-02-21 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +11 min

Carta, a Silicon Valley darling valued at more than $7 billion, has been embroiled in multiple lawsuits with former employees that named Henry Ward, its CEO and cofounder. Meanwhile, the company is separately suing Jerry Talton, the chief technology officer whom it fired and who was deposed as a witness in the Kramer case. Carta alleges he made secret recordings of company executives and shared them with former female employees who were in legal disputes with the company. And now that the Kramer case has been settled, the complaints from other employees included in the lawsuit may never see the light of day. Lawyers for Talton are expected to file an answer to the company's lawsuit by March 15.

☆ Exclusive: Carta settles lawsuit with former female executive who claimed gender discrimination and illegal retaliation
▼ + stars: | 2023-02-07 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

Carta, facing allegations of discrimination and retaliation, had been scheduled to go to court in February. A lawsuit brought by former Vice President of Growth Emily Kramer alleging gender discrimination and illegal retaliation was settled on February 6 in California Superior Court, according to a court filing. While the Kramer case has now been settled, Carta is still involved in other legal disputes and facing complaints of gender discrimination. Carta's "No assholes policy"According to the lawsuit, Kramer was recruited by Carta CEO and co-founder Henry Ward in 2018 to serve as Carta's head of marketing. As part of her job, Kramer led the company's high-profile campaign to raise awareness about the gender equity gap in Silicon Valley.

☆ Exclusive: 3 of Carta's top executives filed complaints about gender discrimination and retaliation in a matter of months
▼ + stars: | 2023-01-25 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

Three former employees filed complaints alleging gender discrimination at Carta. In a statement she told Insider that she was not fired and did not leave the company due to any gender discrimination issues. "I do not feel that I experienced any gender discrimination or any unfair or sexist treatment during my employment at Carta," she said in the statement. Shortly after Johnson's firing, Carta's chief technology officer, Jerry Talton, filed a complaint with Carta's board expressing concerns about her termination and about larger issues of gender discrimination and retaliation at the company. Carta's internal investigationFollowing Talton's complaint, Carta hired the white-shoe law firm Paul, Weiss to investigate the claims, a person familiar with the matter said.

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