"Carta's Legal Woes and Silicon Valley Stumble: A Week in Review"
Carta, a financial technology company, is facing a new lawsuit from its former CTO, Jerry Talton, alleging financial misconduct, whistleblower retaliation, and defamation. The lawsuit details allegations of misuse of customer data, misleading employees about equity compensation, and favoring acquisitions of friends without due diligence. Carta had previously fired and sued Talton after discovering he secretly recorded conversations with CEO Henry Ward and others. The lawsuit also accuses Ward of burying complaints of sexual harassment and discrimination and retaliating against those who complained about misconduct. This latest lawsuit comes just days after Carta shut down its secondary trading business following allegations of misusing private customer data.