Greenberg Glusker Files Lawsuit Alleging Scheme by DTA's Alex Davis to Defraud $50 MillionDecember 8, 2020 – Press Release
The hottest tech stock on the NYSE has sparked a legal battle between two early Palantir investors over tens of millions of dollars of profits. On behalf of veteran Los Angeles investor Ken Rickel, Greenberg Glusker Fields Claman & Machtinger LLP has sued his stepson Alex Davis, CEO of Disruptive Technology Advisors (“DTA”) based in Los Angeles, alleging that the grandson of legendary tycoon Marvin Davis is attempting to cheat him out of at least $50 million in profits from Palantir. The stock of the Denver-based big analytics company has soared from its initial public listing price of $10 per share in late September. Palantir closed on Monday at $29—a 190% increase in slightly over two months of public trading.