Web Summit co-founder has until the end of this month to defend Cosgrave’s US lawsuit

The suit claims co-founder David Kelly and fund manager Patrick Murphy used the Web Summit brand to draw investors to their venture capital fund

3rd October, 2021
Web Summit co-founder has until the end of this month to defend Cosgrave’s US lawsuit
Paddy Cosgrave, chief executive of the Web Summit, claims that two former Web Summit colleagues ‘secretly’ established an investment fund that benefited from its association with the summit, but from which it and Cosgrave were excluded. Picture: Bryan Meade

Former colleagues of Paddy Cosgrave, the Web Summit founder, have until the end of this month to file a defence in a US lawsuit he has taken against them.

David Kelly, a Web Summit co-founder, and Patrick Murphy, a fund manager, are being sued by Cosgrave via Manders Terrace, the operator of Web Summit and the company in which Cosgrave is a founder and chief executive.

Manders Terrace accuses them of “secretly” establishing an investment...

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