‘OSOM is being hauled to court by its former Chief Privacy Officer. The lawsuit alleges OSOM’s founder and CEO, Jason Keats spent huge sums of money to fund his lavish lifestyle.
Born from Essential’s ashes, OSOM too headed for financial disaster?
While OSOM might not be a household name, the Essential Phone would certainly ring a bell. The company behind this minimalist yet fully functional smartphone couldn’t survive and shut down in 2020.
The tech world celebrated Essential Phone for its design and long-term software support. However, the real-world performance of the device wasn’t up to the mark, and it sold very poorly, forcing Essential to shut shop in 2020.
Blockchain smartphone founder Osom Jason Keats has been reported for allegedly misusing company funds to fund a super luxurious lifestyle.
•Osom was founded in 2020, and in 2019 released the Osom V1 smartphone focused on Blockchain. https://t.co/RfJMZNPbSP pic.twitter.com/FBwcp2OrIV
— RAIHAN HAN (@raihanhan121) August 31, 2024
OSOM, which the company claims stands for “Out of Sight, Out of Mind,” was formed by several of Essential’s former employees. The company promised two smartphones: Saga Phone and OV1. These smartphones were to run Android OS. However, both failed to garner any respectable response and failed.
OSOM is now in financial trouble, and a former employee has alleged the company’s CEO and founder is at fault. Specifically speaking, OSOM’s founder and “Chief Hooligan,” Jason Keats, kept Essential’s previous founder, Andy Rubin away, but hired several ex-employees of the company.
Why has OSOM Ex-CPO filed a lawsuit?
OSOM’s former Chief Privacy Officer Mary Ross has filed a lawsuit against the company. Ross, who left the company in May 2024 according to her LinkedIn profile, has reportedly requested the court to scrutinize OSOSM’s books and records.
The lawsuit against OSOM, specifically aims to prove financial mismanagement by Jason Keats. Android Authority reviewed the court documents, and it appears Ross claims Keats abused his position in the company to misappropriate funds.
In a lawsuit, OSOM’s former chief privacy officer claims the smartphone startup’s CEO misused company funds to support his racing hobby and lavish lifestyle. What will this mean for the startup’s reputation and future? #LegalNews #TechStartups #OSOM #BusinessEthics pic.twitter.com/csBK22eZY7
— PUPUWEB Blog (@cheinyeanlim) August 31, 2024
The lawsuit claims he purchased two Lamborghinis, paid for his racing hobby, paid for his racing partner’s salary, expensed multiple first-class travel tickets, paid his mortgage, and more. Besides these allegations, the lawsuit also claims OSOM is on the brink of a financial collapse.
Ross has alleged the company’s resources are depleted, and the company would need to raise additional capital just to survive. As expected, OSOM has refuted these allegations. The company assures it will disprove all of the allegations in court.
2024-09-02 15:06:19