Lawsuit Against Jeffrey Katzenberg’s Quibi Being Funded by Hedge-Fund Giant Elliott Management
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variety.comBy Todd Spangler NY Digital Editor Jeffrey Katzenberg is facing a big new foe — notorious activist hedge fund Elliott Management — in a legal fight accusing his mobile-streaming startup Quibi of patent infringement and theft of trade secrets.
Elliott Management, which claims to have some $40 billion in assets under management, has made a “substantial” investment in interactive-video company Eko to fund its litigation against Quibi, the Wall Street Journal reported Sunday, citing anonymous sources.
Reps for Eko and Elliott Management did not respond to requests for confirmation. With the investment, Elliott Management will receive an equity stake in Eko, the Journal reported.
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