May. 23 at 5:35 PM
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Dive Brief
Rubicon shareholders allege they’re owed millions due to ownership shift
The company has also taken steps to deregister securities and cease public financial reports this year.
Published Feb. 12, 2025

Jacob WallaceReporter







Jon Cherry via Getty Images
Listen to the article4 min
Dive Brief:
A class of Rubicon shareholders is seeking compensation of more than
$330 million from Rubicon. Their attorneys cite an agreement mandating payment if ownership of the company changes hands. The compensation estimate is based on a 2023 filing that put Rubicon’s Series A stock price at
$10.
Specifically, they say payment should have been triggered by a transaction last year in which current board member Jose Miguel Enrich acquired a controlling stake in the company through affiliate MBI Holdings.
In a response, Rubicon denied that it owes payment because MBI was part of the same shareholder class at issue.