INSUBCONTINENT EXCLUSIVE:
CaaStle, the embattled fashion startup whose board of directors accused its founder, Christine Hunsicker, of financial misconduct, is
starting to face lawsuits from a partner and a supplier over missed payments and more allegations of fraud.As first reported by Axios and by
suits seen by A Technology NewsRoom, CaaStle is being sued by P180, a vehicle it launched to invest in companies that used CaaStle
It alleges that CaaStle breached a settlement agreement by not paying fines after reaching the settlement over alleged copyright
CaaStle raised over $530 million total, with its last round raised in 2019 at $43 million, PitchBook estimates.In April, the board confirmed
to A Technology NewsRoom that its financial circumstances were so dire at that time that it had to furlough employees
Should that whole $530 million be gone, this would be one of the largest startup fraud cases in recent history
In comparison, Frank, the student loan application startup, was purchased by JPMorgan for $175 million
