Core Viewpoint - Roadzen Inc. has filed a lawsuit against Meteora Capital Partners for breach of contract related to a Forward Purchase Agreement, claiming damages of approximately $19.5 million [1][3][4] Group 1: Lawsuit Details - The lawsuit is based on a Forward Purchase Agreement signed in August 2023, where Meteora acquired 5 million shares of Roadzen at a zero-cost basis [2] - Roadzen alleges that Meteora sold over 1.8 million shares without fulfilling its payment obligations or providing required notices, leading to significant financial damage [3][4] - The case is currently pending in the Circuit Court of Palm Beach County, Florida [5] Group 2: Company Background - Roadzen Inc. is a global leader in AI-driven mobility and insurance technology, focusing on transforming auto insurance through advanced AI solutions [6] - The company serves a diverse clientele, including insurers, car manufacturers, and auto insurance agents, and has been recognized as a top AI innovator by various publications [6] - Roadzen's mission is to enhance road safety and streamline insurance processes, aiming for rapid claims processing and fair premiums [6]
Roadzen Inc. Files Multi-Million Dollar Lawsuit Against Meteora for Breach of Contract to the Terms of the Forward Purchase Agreement