

Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors
Figure Markets today announced that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records
San Francisco, California, September 7th, 2024, Chainwire
Figure Markets announced today that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records under Section 220 of the Delaware General Corporation Law. This request seeks information to investigate potential misconduct by the Board of Directors and assess their performance of fiduciary duties.
Figure Markets and Mr. Vejseli believe access to these records (the “Books and Records”) is crucial for protecting shareholder interests. This request arises from concerns about potential self-dealing behavior by board members and actions that may have disadvantaged shareholders. Specific areas of investigation include:
Based on interactions with the Board, public filings, and other information, Figure Markets and Mr. Vejseli believe the Board may be prioritizing its own interests over those of shareholders. This pattern of behavior is allegedly evidenced by:
“Having been involved in the Celsius bankruptcy from the beginning, it’s unfortunate how creditors have been treated,” said Mike Cagney, CEO of Figure Markets. “We hope by forcing a special shareholder meeting to improve Ionic's management, governance, and strategy, we can salvage value for shareholders.”
In response to widespread shareholder dissatisfaction, Figure Markets initiated a grassroots social media campaign aimed at securing 25% of Ionic shareholders to call for a special shareholder meeting. Remarkably, despite the challenge of rallying 86,000 shareholders, none of whom hold more than 1% of the stock, Figure Markets has successfully garnered support from 29% of the outstanding shareholders.
Figure Markets and Mr. Vejseli believe the Board's actions may constitute gross negligence and warrant removal. They also express concern that these actions may have stripped shareholders of their voice in company governance. Access to the Books and Records represents a critical step towards restoring shareholder democracy at Ionic.
This inspection request will allow Figure Markets and Mr. Vejseli to investigate potential misconduct and assess the Board's performance of its fiduciary duties. They urge the Board to act with urgency and collaborate constructively to address shareholder concerns.
The full text of the Books and Records demand can be found here.
About Figure Markets
Figure Markets is democratizing finance through blockchain. We're building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. We're bringing best in class leverage, margin trading, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts our members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.
Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.
Learn more at www.figuremarkets.com.
Contact
Paula Jackler[email protected]
The above is the detailed content of Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undress AI Tool
Undress images for free

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

ArtGPT
AI image generator for creative art from text prompts.

Stock Market GPT
AI powered investment research for smarter decisions

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

In the active crypto market, the ZKC token issued by Boundless, a second-tier platform focusing on zero-knowledge proof technology, is expected to stabilize around $0.8 before and after listing. ZKC tokens launched WhalesPro's leading TGE pre-trading OTCDEX WhalesPro recently ushered in ZKC tokens, and its inflows continue to rise, with the cumulative total transaction volume exceeding US$307,000. The current ZKC quote on the platform is $0.705, a drop of nearly 12%. However, trading volume surged by more than 734% in 24 hours to $155,971. Buyer's orders are mainly large, with bidding ranges ranging from 0.8 to

Directory What is Boundless? Vision and Positioning Target Users and Value Technology Architecture Proof Network: Off-chain Generation Aggregation and Settlement: On-chain Verification PoVW Incentives: Pay for Verified Job Development and Interoperability Integration Path Performance and Security Discussion ZKC Token Economics Supply and Inflation Utility and Value Acquisition Ecosystem Partnership and Latest Progress Recent Milestones and Market Signals Developers and Infrastructure Responds Future Roadmap Verifier Capacity and Geographic Distribution Standardization and SDK Deepening Frequently Asked Questions Key Points Boundless aims to build "verifiable computing" into a cross-chain public service:

Key points of the catalog: Bitcoin breaks through key resistance and strengthens the order book liquidity pattern suggests upward direction. Latest analysis shows that after Bitcoin (BTC) successfully breaks through and stands firm in the key resistance area, bulls are accumulating momentum to hit new historical highs. Key points: Data shows that after Bitcoin returns to $114,000, there is still room for this bull market to rise. Historical cycle comparison shows that if the current top appears at $124,000, this bull market will last too short and do not conform to the typical pattern. The order flow and liquidity distribution provide "structural guidance" for the direction of BTC prices. Bitcoin (BTC) is currently showing strong upward inertia, and analysts generally believe it is "difficult to easily reach the top." As key technical positions are broken, market sentiment turns to optimism. famous

Directory What is a stablecoin? How does stablecoins work? The decentralized support of cryptocurrencies is based on traditional assets. The classification of stablecoins is supported by algorithms. The stablecoin with fiat currency collateral assets B. The stablecoin with cryptocurrency collateral assets C. Why does the algorithmic stablecoin have stablecoins? The most well-known stablecoins at a glance. Tether (USDT) BinanceUSD (BUSD) USDCoin (USDC) DAI (DAI) Stablecoins Pros and Cons. Stablecoins Controversy and Future Controversy Points: Future Trends: Conclusion: Stablecoins and their role in the cryptocurrency world. What are the common questions about stablecoins? What is the best stablecoin?

Table of Contents What is high frequency trading How high frequency trading How high frequency trading does high frequency trading Benefits of high frequency trading HFT execution faster High turnover rate and order trading ratio High frequency trading has huge growth potential overseas High dominance Common HFT strategies How to use algorithms in high frequency trading Disadvantages of high frequency trading How to future high frequency trading The latest developments of cryptocurrency high frequency trading (2023-2025) Cryptocurrency high frequency trading (HFT) is the evolution and application of traditional financial fields strategies in the digital asset market. Below I will fully interpret its definition and fortune for you

Table of Contents 1. ARAI project overview 2. Basic information of AA tokens 3. AA token price performance 4. AA token price prediction 5. Factors affecting the price of AA tokens 6. How to trade AA tokens on Gate and participate in activities? 7. Investment risks and precautions Future Outlook Today, as the crypto market is constantly looking for new hot spots, ARAI (AA) has been a project that combines AI and Web3, and its recent performance has been eye-catching. Its token AA has increased its price by more than 40.13% in the past 24 hours, with transaction volume reaching US$53.96 million. It works with Google

Table of Contents As traditional financial markets recover, Bitcoin volatility has risen significantly. The Fed's interest rate cut expectation has become the focus of the market. The peak of Bitcoin bull market may be "only a few weeks left". Binance has seen a large-scale buy signal. ETFs continue to absorb newly mined BTC. Bitcoin (BTC) investors are closely following market trends as crypto assets enter the Fed's key interest rate decision window. At the beginning of this week, bulls need to break through the important resistance level of $117,000 to continue their uptrend. Global attention is focused on Wednesday's Federal Reserve meeting, and it is generally predicted that it will usher in the first rate cut in 2025. A past accurate BTC price model shows that all-time highs may be born in the next few weeks. Binance Order Book reveals signs of large buying influx over the weekend. Last week, the amount of BTC purchased by institutions through ETFs reached miners

Summary box (short facts) Stock code: LINEA Chain: Ethereum (Layer 2) Contract address: 0x1789e0043623282d5dcc7f213d703c6d8bafbb04 Circulation supply: approximately 15.48 billion LINEA. Maximum supply: 72.01 billion LINEA. Main example: Ethereum Layer 2 scaling solution. Current market value: approximately US$382 million. Availability on Phemex: Yes (spot, futures, LINEA listing feast) What is Linea? Linea is an Ethereum Layer 2 expansion solution launched by blockchain technology company Consensys, which is also well-known products such as MetaMask and Infura.