Founder of Oasis Suing Former Owner; Hedge Fund D.E. Shaw

One of the largest hedge funds in the world, D.E. Shaw, previously owned consumer legal funder Oasis Financial through a side pocket fund (separate Private Equity subsidiary). In 2016, Shaw sold Oasis to PE shop Parthenon. Now, Gary Chodes, Oasis’ founder, is suing D.E. Shaw claiming that the hedge fund sold off his company for less than it was worth, and that it paid out equity holders while he got nothing, despite his having an equity stake and a board seat. 

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