Cybereason CEO Sues Mnuchin, SoftBank Fund Over Funding Plan

The chief executive officer of Cybereason Inc. sued two investors — former Treasury Secretary Steven Mnuchin and the SoftBank Vision Fund — accusing them of putting the company at risk of bankruptcy by rejecting multiple plans for a much-needed capital infusion of as much as $150 million.

Using their voting rights as board members, the two investors “systematically rejected financing proposals, solely to preserve their control and financial advantages,” CEO Eric Gan said in a complaint filed Monday in Delaware Chancery Court. Gan said the cybersecurity-software maker will be forced into Chapter 11 bankruptcy if immediate financing isn’t secured.