Tiger Global Claims Misinformation Attack Includes Fake ‘N…[ad_1]
Investment firm Tiger Global Management is alleging that it was subjected to a wave of deliberate misinformation attacks by an ex-employee, according to a letter the firm wrote to investors that was later obtained by Reuters.
The name of the employee, who was said to have been recently let go by the hedge fund, was not disclosed.
Tiger said its letter was written in response to an article The New Yorker magazine had been purportedly working on in which the publication made unconfirmed allegations about the firm. Reuters said "A spokesperson for The New Yorker denied any involvement." Bloomberg described the article as "fake."
On Aug. 25, Tiger Global contacted its investment partners regarding the nine-page document, "which discusses the firm’s investing strategy as well as alleged personal improprieties," Reuters said. The document has since caught the eye of venture capitalists, hedge funds and the media community, according to Reuters.
“These attacks are packed with lies, which we strongly believe were written and pushed by a disgruntled former employee with whom we parted ways,” Tiger Global said in the letter obtained by Reuters. ”We are saddened that you, our clients, have been subjected to this as well.”
The extent of the draft article distribution is unclear, but according to Tiger’s letter, the company had known about it for several months.
Tiger told investors it had tapped experts to assist it in addressing the claims made in the "draft" magazine article but did not provide more information on those efforts.
"Unlike the anonymous coward spreading this false narrative on the internet, you know who we are," Tiger Global wrote in the letter.
Tiger, founded by Chase Coleman III, has long been an investor in early-stage tech companies such as Meta, Spotify and LinkedIn. It has almost $60 billion in assets under management.
Last week, The Information reported that Tiger is close to selling its stake in artificial intelligence company Cohere for $63 million. In May, Yahoo Finance reported that Tiger had told investors it had suffered a 20% "net paper loss."
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