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Page 11 - Paul Judge News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Gathering The Facts and Factors on ATL s Gathering Spot: What Went So Wrong After Acquisition by Greenwood Bank?

Gathering Spot sues Greenwood over alleged missed payment

Gathering Spot sues Greenwood over alleged missed payment
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What s going on with Greenwood and The Gathering Spot?

What’s going on with Greenwood and The Gathering Spot? What started as a dream merger has turned into a nightmare When Greenwood, a neobank that courts Black…

Popular Black Social Club The Gathering Spot Receives Backlash from Members and Social Media After Introducing a New White CFO to Replace Black Co-Founder: Now the Gentrified Spot

Popular Black Social Club The Gathering Spot Receives Backlash from Members and Social Media After Introducing a New White CFO to Replace Black Co-Founder: Now the Gentrified Spot
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What s going on with Greenwood and The Gathering Spot?

When Greenwood, a neobank that courts Black and Latino customers, acquired The Gathering Spot last year — a networking and coworking club that targets similar demographics — the fintech’s co-founder Paul Judge described the merger as a "Black on Black" deal, saying it was "two companies that are Black-owned, strengthening each other." Ryan Wilson, the CEO and co-founder of The Gathering Spot (TGS), has sued Judge, Greenwood co-founder Ryan Glover and the fintech itself, alleging Greenwood and its founders did not pay Wilson and former TGS shareholders the earn-outs promised in their purchase agreement, that the fintech refused to pay bonuses to TGS employees, and more. Wilson is claiming he and his fellow TGS shareholders are owed a $5 million earn-out payment and other considerations.

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