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Marc Lasry, the billionaire businessman and co-owner of the Milwaukee Bucks, said in a statement on condition that he resign from the board of directors of Ozy Media.
Why is this important: Lasry, who is also an investor in Ozy, was named chairman earlier this month. His departure comes as investors scramble to distance themselves from the company, after a New York Times report suggested Ozy executives may have committed securities fraud.
What he says : “I think to move forward, Ozy requires experience in areas like crisis management and investigations, where I don’t have any particular expertise. For this reason, I resigned from the board of directors of the company. I remain an investor in the company and wish it the best for the future.
- Ozy Media co-founder and CEO Carlos Watson called Lasry a “lead investor” in what he called the $ 35 million round of funding in 2019, but a source said Lasry did not invested only $ 1 million in this deal and had never invested since.
- Other investors in the deal included Interlock Partners, LionTree, Atinum Investment, GSV Capital, Axel Springer, Emerson Collective and three partners from buyout firm Clayton, Dubilier & Rice.
Go further: Scoop: OZY Media loses early investor
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