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Web Summit shareholder David Kelly ‘in cahoots’ with venture capitalist, court hears

It is claimed that actions caused loss of $12.3m



Paddy Cosgrave is suing Web Summit shareholder David Kelly for $12.3 million, alleging Kelly breached his duties by conspiring with a venture capitalist to create a fund (Semble) leveraging Web Summit's connections after Kelly resigned as a director. Cosgrave claims Kelly was secretly planning the fund before his resignation, intending to "swipe" it from Web Summit. Kelly denies the allegations. The case is part of a larger civil trial involving Cosgrave, Kelly, and another former director, Daire Hickey.

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