A London-listed technology company has alleged its former chief executive “forged” documents in the run up to its 577 million flotation in a significant escalation of a bitter High Court and boardroom battle.
Big Technologies, an electronic tagging business, claimed that Sara Murray, its founder, had deliberately falsified various documents related to a disputed transaction which saw investors sell their shares in a related business, Buddi, before Big’s initial public offering in 2021.
The allegedly bogus documents include board minutes and emails intended to show Big’s acquisition of Buddi was properly executed in 2018. Big claimed on Friday that Murray had “created or otherwise forged or deliberately falsified” the documents more than three years later.
• Offshore firms say they did have links to Big Technologies founder
The company alleged that the forgeries took place “in the days immediately after” former shareholders told Big they wanted to challenge the legitimacy of the 2018 Buddi deal.
The documents were used to create a “false impression’’ to lawyers and others that the deal had been properly conducted and to “cover up her wrongdoing at that time” and so the flotation of Big could go ahead in 2021, Big claimed.
The flotation delivered “significant financial benefits to Sara Murray and her family”, Big said, including via allegedly undisclosed links to offshore companies controlled by a family trust whose beneficiaries are Murray and her daughter. These companies...
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