💨 Abstract

Figure AI, a robotics startup, has sent cease-and-desist letters to brokers running secondary stock markets, demanding they stop marketing the company's stock. The move comes after Bloomberg reported Figure was seeking a $1.5 billion round at a $39.5 billion valuation, a significant increase from its previous valuation. Figure AI claims it sends such letters when unauthorized brokers sell its stock without board approval.

Courtesy: techcrunch.com

Summarized by Einstein Beta 🤖