A former Array exec's effort to claim a $100 million stake in the fintech unicorn has failed

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A former top executive at fintech startup Array has had his attempt to claim a $100 million stake in the company thwarted by a New York judge.

Jason Owen, who was Array's chief strategy officer, had sued the company and its CEO, Martin Toha, in 2022, claiming that Toha had promised him an equity stake worth up to $70 million. However, Justice Joel Cohen dismissed Owen's case, stating that the deal should have been put in writing.

The judge's decision was based on evidence from the trial, which suggested that no clear agreement existed between Owen and Toha regarding the size of his potential share. The court also heard testimony about Owen's termination, with Array claiming it was a result of his attempts to raise concerns over some of its early customers.

Array has valued itself at nearly $1.5 billion, according to Jason Owen's lawsuit, and last raised funds in 2023 at an unspecified valuation.

In a statement, the company said that there had been "no agreement" between Toha and Owen regarding his stake, adding that Owen's allegations of wrongdoing were an attempt to intimidate them into paying him money they did not owe.
 
idk what's wrong with people like jason owen tho 🤷‍♂️ he gets caught out for trying to scam array and then tries to claim 100 mil as if it's a done deal lol who writes a deal in the air btw? just saying, seems like a pretty obvious case of someone trying to get rich quick 👀
 
I mean, I'm just gonna say this - it's kinda weird how these cases can get so messy 🤔. I remember when Facebook was all about making changes and having 'disruptive' conversations (lol). Anyway, in this case, it sounds like Owen was trying to negotiate something that wasn't even on paper... like a digital sticky note 📝. And now he's left with no stake in the company? Not what you'd call a win for him 😐.

It's also kinda sad because I remember when tech startups were all about innovation and teamwork (like, remember those early days of Twitter?). Now it feels like just another lawsuit fest 💼. I guess that's progress, right? 🤷‍♂️ Anyway, Array's valuation is insane - $1.5 billion? That's some next-level growth 💸!
 
ugh I cant believe this... $100 million stake just went up in smoke because some papers got lost 🤦‍♂️. I mean what's the point of even having a top exec if you're gonna make promises like that? seems to me Jason Owen was just trying to get paid for something he thought he deserved 💸. and Array is all like "there was no agreement" but the numbers dont add up 📊... nearly $1.5 billion valuation and theyre worried about a tiny fraction of that? 😂
 
Ugh 🙄 I don't get why Jason Owen waited so long to sue Array over this deal. He must have known it was a risk, but you'd think he'd at least try to get his story straight before going public with it. And now his whole case has been shot down because of lack of evidence...it's like, if there wasn't a clear agreement, why did he just accept the role and not make sure he got something in writing? It seems kinda fishy to me 🤔
 
I remember when we used to think $100 million was crazy for a startup deal, but now it feels like chump change compared to what these fintech companies are raising today 💸. I mean, $1.5 billion is wild. And it's even wilder that some guy tried to claim a chunk of that and got shut down by the court 🤦‍♂️.

It just goes to show you how things have changed in the startup world, right? The old days were all about handshake deals and loosey-goosey agreements... not so much anymore 😂. I guess that's progress for you!
 
The truth is rarely pure and never simple - Oscar Wilde 🤑💸 I mean, it's easy to get caught up in the idea that a deal is a deal, but when you look deeper, you realize that there are always gray areas. In this case, it seems like Owen's attempt to claim his stake was more about leverage than reality. It's not surprising that Toha pushed back - after all, you can't just offer someone a blank check and expect them to sign on the dotted line without some sort of written agreement in place.
 
🤔 so what's up with these fin guys? always playing it cool on one hand but on the other trying to muscle in on a company for some sweet equity 🤑 i mean, Jason Owen seems like he had good reason to want that stake, given his role and all... but at the same time, Array is acting all innocent and whatnot 🙄. I think Justice Joel Cohen was spot on - no clear agreement = no $100 million claim 💸. But you've got to wonder, what was going through Jason's head when he decided to go for broke like that? was it a calculated move or just some revenge plot 🤺‍♂️. either way, this whole thing seems super messy and I'd love to hear more about the early customer drama...
 
🤦‍♂️ Oh man, I'm surprised the judge didn't rule in Jason Owen's favor considering he had a pretty solid case going on. The fact that Owen was terminated and his concerns over early customers were shut down kinda smells like to me... 🤑 As for the whole deal not being in writing, come on, companies are always trying to get out of stuff like that! It's all about the fine print, right? 📝 Anyway, I'm a bit salty for Owen, but you can't just claim a huge stake without having it officially documented. 😒
 
🚨💸😒 just heard about Jason Owen gettin crushed by a NY judge... like, who does he think he is tryna claim 70 million from Array after gettin let go? the company's all about transparency now and it looks like justice served 🙏🏼. toha was right to say there was no clear deal in writing, Owen shoulda done his research better... or maybe just chill on the extortion attempts 🤷‍♂️
 
I don't get it 🤔... this guy was supposed to get 70 million bucks from the company he used to work at and now he's out cold 💸? I mean, I can see why the judge wouldn't let him just claim something he didn't have written down, but still, 100 million is a pretty big chunk of change 🤑. Did he not think through his lawsuit strategy? 🤦‍♂️ Array seems like they're trying to spin this whole thing and make it seem like Owen was the one trying to strong-arm them... not buying it 😒
 
omg, i feel bad for jason owen 🤕, but at the same time, it's kinda clear that he was trying to pull a fast one on array 🤑. i mean, if there was no written agreement, then how could he expect to get his $100 million? 💸 and also, array seems like they've got their facts straight with him being let go for raising concerns about early customers... 🤔 not saying it's necessarily right or wrong, but gotta respect the company's stance on this one 😊
 
OMG, can you believe this guy Jason Owen is trying to claim $100 million from Array? 🤑 Like, I get it if there was a clear agreement, but if he says his value was up to $70 million and now he's saying it was way more... it just doesn't add up! 😒 The fact that the judge said no deal should have been put in writing is SO true. I mean, if you're going to claim you're worth a certain amount of money from a company, shouldn't there be some paper trail or something? 📝 It's not like he's the only one who can negotiate... the court heard that Array was trying to fire him because he was being too pushy about the customers. Guess what happens when you play hardball in business 😜!
 
The whole situation is kinda weird 🤔. I mean, Jason Owen was a top exec at Array, so he must've had some pretty big ideas about the company's future... but no one seemed to agree on anything 🤑. It's like, if you're gonna claim $100 million, shouldn't that be in writing? It seems kinda shady to me.

And what really gets me is the fact that Owen got fired from Array before he even made his move for the equity stake 💼. It sounds like a pretty dodgy way to handle an exit strategy... or whatever it was 🤷‍♂️. Anyways, I guess you can't trust everyone who's in the boardroom 💸. The judge's decision seems solid as far as I'm concerned 👍.
 
😔 I feel so bad for Jason Owen, he must be totally devastated right now 🤕. It's like, he went through all this emotional rollercoaster, thought he was getting a huge sum from Array, and now it's like, nothing 😔. The judge's decision is just, though - you can't just claim something without putting it in writing 💼. And I'm sure Toha isn't trying to be malicious, but at the same time, Owen should've been more careful about how he handled things 🤦‍♂️. Either way, it's just a tough break for him right now 😞.
 
omg what is going on with these fintech execs? 🤯 like i get it, deals can get messy but $100 million is crazy lol. and the fact that he thought an agreement was good enough without putting it in writing is wild. didn't he see red flags or something? 😂 anyway, I'm surprised he even tried to go through with it now. I guess you could say justice has been served...or at least Toha's bank account 🤑
 
🤔 this is just crazy how much money Jason Owen was hoping for... $100 million! 🤑 and the judge basically said 'nope' because there wasn't any paper trail to back it up. I mean, you'd think with fintech and all that, they'd have some solid contracts in place. 💸 and now Array is just saying he's trying to strong-arm them into paying him... but at this point, who needs the drama? 🙅‍♂️
 
🤔 So I'm reading this news about Jason Owen trying to claim a $100 million stake in Array and it's crazy how the judge just shut him down. 😱 The thing is, I think both sides kinda have a point here. On one hand, you've got Owen claiming that Toha promised him an equity stake worth up to $70 million back in 2022, but then the judge says there was no clear agreement and Toha's statement seems pretty convincing.

On the other hand, it does seem like Array is trying to gaslight Owen here. 🙅‍♂️ I mean, they're saying that his allegations of wrongdoing are just an attempt to intimidate them into paying him money he doesn't owe. But at the same time, if there was no clear agreement between them, then why is Toha being so secretive about it? It's like he's trying to cover something up.

Anyway, I think this whole situation raises some interesting questions about corporate culture and how power dynamics play out in startup environments. 🤝 What do you guys think – do you side with Owen or Toha?
 
I think it's kinda weird that Jason Owen was trying to claim $100 million from Array when the company is worth like $1.5 billion lol 🤑. The judge just said there wasn't enough evidence to prove that Toha promised him an equity stake, which makes sense I guess. But come on, 70-80 million would be a pretty sweet deal if you ask me 😂. Anyway, it's all water under the bridge now and Owen can just move on with his life 💸.
 
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