A high-ranking executive at AI company Corvex, Brian Raymond, was recently indicted on charges of illegally exporting Nvidia chips to China. However, in a surprising turn of events, Corvex has claimed that Raymond was never actually its Chief Technology Officer (CTO). The claim seems contradictory to the press release and SEC filings made by Corvex just days before Raymond's indictment.
In a bizarre twist, Corvex initially named Raymond as its CTO in a press release announcing a merger with Movano Health. The company also listed him as one of the post-merger officers in an exhibit filed with the Securities and Exchange Commission (SEC). This suggests that Corvex indeed had intended to hire Raymond as its CTO, but only after the merger was completed.
However, once Raymond was arrested, Corvex told media outlets that he was never actually hired as an employee. The company's spokesperson even asked Ars Technica for a "correction" to their previous story, claiming that Raymond was never the CTO and had simply been acting as a consultant or contractor.
But is this claim accurate? Lawyers and experts say that while it's technically possible for someone to serve as an officer of a company without being an employee, Corvex's actions could be seen as misleading. The fact that Raymond was listed as the CTO in Corvex's press release and SEC filings creates a material misstatement, which could have significant implications for investors.
The consequences of such false statements can be severe, including private litigation brought by investors against the company or enforcement actions by the SEC. Companies like Corvex face liability for making false statements to investors, even if they're not made in SEC filings.
It remains unclear whether Raymond's claim that he was never Corvex's CTO is entirely accurate. However, one thing is certain: Corvex's shifting story raises serious questions about the company's integrity and its ability to be transparent with its stakeholders.
In a bizarre twist, Corvex initially named Raymond as its CTO in a press release announcing a merger with Movano Health. The company also listed him as one of the post-merger officers in an exhibit filed with the Securities and Exchange Commission (SEC). This suggests that Corvex indeed had intended to hire Raymond as its CTO, but only after the merger was completed.
However, once Raymond was arrested, Corvex told media outlets that he was never actually hired as an employee. The company's spokesperson even asked Ars Technica for a "correction" to their previous story, claiming that Raymond was never the CTO and had simply been acting as a consultant or contractor.
But is this claim accurate? Lawyers and experts say that while it's technically possible for someone to serve as an officer of a company without being an employee, Corvex's actions could be seen as misleading. The fact that Raymond was listed as the CTO in Corvex's press release and SEC filings creates a material misstatement, which could have significant implications for investors.
The consequences of such false statements can be severe, including private litigation brought by investors against the company or enforcement actions by the SEC. Companies like Corvex face liability for making false statements to investors, even if they're not made in SEC filings.
It remains unclear whether Raymond's claim that he was never Corvex's CTO is entirely accurate. However, one thing is certain: Corvex's shifting story raises serious questions about the company's integrity and its ability to be transparent with its stakeholders.
this is wild how quickly corvex changed their story after raymond got indicted. i mean, it just goes to show that when you're involved in some shady dealings, people can get mighty slippery 
. the thing is, though, who actually benefits from all these backpedals? not the investors, for sure 
. and what about all those nvidia chips being exported to china? that's some serious red flag stuff 
. anyway, gotta keep an eye on corvex - their story just got a whole lot more complicated 
.
. Companies like Corvex might try to spin their stories to avoid trouble, but at the end of the day, honesty and transparency are key.
. It shows us that our individual choices can have a ripple effect on others and on the world around us. So, let's all take a cue from Corvex and strive to be more authentic in our words and actions 
.
It seems like Corvex is trying to distance themselves from Raymond, but now we're left wondering what's really going on. Was he just a consultant or did he actually get the job? 
And what about all those investors who got misled because of the press release and SEC filings? 
It's like they thought they could just spin this story and nobody would notice. But now it's all coming back to bite them... 
i mean, if corvex said raymond was their cto in the press release and on those sec filings, it seems pretty clear that he was indeed the cto... unless corvex is trying to spin this into some kinda conspiracy theory 
but honestly, who tries to retroactively claim someone wasn't a part of the company? 
that just doesn't sit right with me 
. And now the SEC is breathing down their necks... I'm all for good governance, but this company is playing with fire. They're basically saying "oh, he was never our guy" like it's no big deal 
. Newsflash: it's a big deal! False statements to investors can get you into some serious trouble 
like corvex is trying to rewrite history on the fly and it's not even believable they're trying to make this whole thing about raymond not being a real employee 
this whole thing smells like a cover-up 
how can you trust them after that? also, isn't it weird that they asked ars technica for a "correction" to their previous story? doesn't that sound kinda desperate? 
I'm keeping an eye on this one... 
i mean come on, corvex changes their story like 3 times already! first they say raymond was cto, then they say he wasn't... and now they're trying to convince everyone that he was never even hired as an employee? 
. Like, who tries to retroactively erase a press release? 
#CorvexGate #FalseStatementsMatter #CorporateIntegrity
. One minute you're announcing a merger and appointing someone as CTO, the next they're claiming they never did 
. It's just sloppy corporate communication at its worst 
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. They need to come clean about what really happened and take responsibility for their actions 
. Anything less is just a cover-up 
. One thing's for sure, though: Corvex is going to have some 'splainin' to do 
. And now investors are gonna be all over this like a rash