Groq sued: Accused of sacrificing minority shareholders’ interests in $20 billion “quasi-acquisition” deal with NvidiaGroq 遭起诉：被控与英伟达 200 亿美元“类收购”交易牺牲少数股东权益

IT House News on October 6, according to reports from CNBC and the Financial Times, Groq was sued in the U.S. Court of Chancery of Delaware on Tuesday local time, accused of sacrificing the rights and interests of minority shareholders in a "quasi-acquisition" non-exclusive licensing transaction with NVIDIA. Plaintiffs Joshua Rubin and Benjamin Serebrin were former Groq employees but left before the NVIDIA deal. Two employees still own shares in Groq. According to disclosed litigation documents, the US$20 billion (IT Home Note: Current exchange rate is approximately 134.289 billion yuan) transaction between Groq and NVIDIA is divided into two parts: US$17 billion is shared by all shareholders, and the other US$3 billion is distributed to Groq employees who switch to NVIDIA in the form of NVIDIA restricted shares. The plaintiffs argued that Groq's board of directors had serious conflicts of interest and failed to fulfill its legal obligations to obtain the best price and structure for all shareholders by not allowing some shareholders to vote on the transaction. Some shareholders' shares were cashed out at a "low price" because "the future value-added potential of Groq technology and synergies with NVIDIA were not taken into account", and management made large profits. Additionally, because the deal was not a true acquisition, the $17 billion in licensing fees was considered taxable income for Groq.