back to article Basho investor to pay up $20m in damages for campaign that put biz on 'greased slide to failure'

An investment fund and its manager have been ordered to pay up $20.3m after "misinformation, threats and combative behaviour" helped put NoSQL database biz Basho on a "greased slide to failure". As reported by The Register, the once-promising biz, which developed the Riak distributed database, faded away last year amid severe …

  1. Blockchain commentard

    Shot themselves in the foot methinks. But I'm surprised Basho was going through $1.5 million a month. Seems a tad excessive.

    1. James 51

      Depends on what they friendly directors thought they were worth.

  2. James 51

    Hope that the fine goes to the individuals if the investment vehicle doesn't have the money to pay. This kind of 'management' style needs to be treated in the same way as Japanese knotweed.

  3. Fatman

    Good Luck

    .. in collecting that judgment.

    I am fairly confident that Georgetown has anticipated a ruling against it, and has taken steps to insure that there are little or no assets to levy upon.

    1. Anonymous Coward
      Anonymous Coward

      Re: Good Luck

      Insure? How do you get insurance for a situation like that?

      Or did you mean ensure?

    2. Anonymous Coward
      Anonymous Coward

      Re: Good Luck

      The judgement is against Georgetown and Davenport jointly and severally - which means the plaintiffs can recover the money in full from either party. Even if Georgetown has been wound up, the plaintiffs should still be able to recover from Davenport, if he has assets.

      We don't know yet whether the defendants plan to appeal the finding

  4. Pascal Monett Silver badge
    Thumb Down

    Chester Davenport

    To think that he is apparently a Distinguished Service Scroll Winner and got honors at a law school.

    Looks like he was just pond scum looking to gain shark status.

    Failure across the board, I say.

  5. 2Nick3

    People worked at Basho

    While these idiots were playing their games there were people working at Basho. Hopefully this opens the door to them being able to recover some of the losses incurred through these antics.

    1. james 68

      Re: People worked at Basho

      It's a nice thought, and I fully agree, but the proletariat rarely see anything from these kinds of fun and games. The lawyers will get the lion's share, the bigwigs will get the remainder and the taxman will get the scraps.

      1. Doctor Syntax Silver badge

        Re: People worked at Basho

        "the taxman will get the scraps."

        If that's so the US taxmen have a lot to learn. In the UK they're usually first in line, then secured creditors then anybody else. True the line will form behind the lawyers but even then the taxman will be looking at what they take.

  6. Alan Brown Silver badge

    Interesting because Delaware

    Delaware is extremely corporate-friendly, which is why do many companies are incorporated there. In order to get a ruling like this the bad behaviour really does have to go beyond the pale.

    It's going to be interesting to see what happens next. This kind of judgement effectively means that Georgetown - and Chester Davenport in particular will become untouchables.

  7. rodmena

    a little hope

    I am happy at least riak-core technology is open source and accessible. Riak was a brilliant idea and I think it simply faded away by mismanagement.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2021