Read previewAccess Industries, the investment firm founded by billionaire Len Blavatnik that invested in mental health company Cerebral, is suing the company and another of its backers as tensions mount inside the mental health company, according to documents obtained by Business Insider.
It's the latest challenge to the once-hot mental health startup, which launched in 2020 to provide mental healthcare online.
The lawsuit, filed by Access Industries on April 2 in Delaware, alleges an undercover power grab by WestCap, another Cerebral investor.
A sinking shipOnce the hottest and fastest-growing mental health startup, Cerebral's fall from grace has been stunning.
Since then, Cerebral hasn't raised any more venture funding, and the mental health company has conducted at least three rounds of layoffs.
Persons:
—, Len Blavatnik, WestCap, David Mou, SoftBank
Organizations:
Service, Business, US Department of Justice, Access Industries, DOJ, Industries, Wall Street Journal, Bloomberg, US Drug Enforcement Administration, New York
Locations:
Delaware, WestCap