FORTUNE -- It has been one month after Gurbaksh "G" Chahal was booted as CEO of ad-tech company RadiumOne, after having pled guilty to a pair of misdemeanor battery charges stemming from an August 2013 fight with his then-girlfriend. Now he's promising legal payback against RadiumOne, arguing that the board supported his decision to plea until the subsequent social media pressure got too hot to handle.
Chahal has not yet filed formal legal paperwork, so we don't yet know if he plans to sue the company or its directors as individuals (likely the latter, given that he still owns a lot of stock in RadiumOne). Nor on what grounds. That also means we don't have a detailed response from RadiumOne, whose directors have consistently refused interview requests.
As I've written from the beginning, Chahal needed to go. Not only for obvious moral reasons, but also because Chahal's continued leadership would have seriously hampered RadiumOne's plans to go public. And Chahal's subsequent statements -- including ones where he called his ex-girlfriend a whore and compared himself to a lynching victim -- have convinced me even more.
But, at the same time, I believe Chahal is telling the truth about being betrayed by RadiumOne's board of directors. A source familiar with the situation confirms Chahal's version of corporate events, including his early offer to step back if the board felt that his legal situation would become too much of a distraction. The source adds that the board was comfortable with Chahal's decision to plead guilty to misdemeanors, thus avoiding a protracted legal battle (and, possibly, a more serious conviction).
As for why RadiumOne's directors didn't anticipate the public backlash, the source had no answer: "Maybe they really don't understand how seriously people take this issue, or maybe they thought no one would notice. Obviously they were wrong."
Put simply: It was not inconsistent to say that Chahal deserved to be fired by RadiumOne and that Chahal was screwed over by the people who fired him.
Sign up for Dan Primack's daily email newsletter on deals and deal-makers: GetTermSheet.com
Value of cash component increased by more than 23% as latest bid values firm at around $53 billion.
FORTUNE -- Valeant Pharmaceuticals has raised the cash portion of its takeover offer for Botox-maker Allergan for the second time this week in the hopes of kicking off negotiations between the two companies.
Valeant and Allergan's largest shareholder, Pershing Square Capital, said in a joint announcement Friday afternoon that they have increased the cash component of MORETom Huddleston Jr. - May 30, 2014 3:24 PM ET
Automatically enrolling workers into a savings plan and reminding them how much they can lose may just do the trick.
By Jean Chatzky
FORTUNE – Last year, The New York Times ran a story about how teenagers were showing a surprising new reluctance to drive. That set us talking in my house. Both my husband and I recalled showing up at the DMV the day we became eligible for our respective permits/ MOREMay 30, 2014 2:20 PM ET
Gupta ordered to surrender to authorities and begin his two-year prison term on June 17.
FORTUNE -- Despite his best attempts to put off going to prison for as long as possible, former Goldman Sachs director and board member Rajat Gupta found out today he has less than three weeks left as a free man.
Gupta, who lost an appeal of his 2012 conviction on insider trading charges this past March, has been ordered to MORETom Huddleston Jr. - May 30, 2014 2:06 PM ET
Box is now looking like a mid-summer IPO candidate.
FORTUNE -- The Wall Street Journal reported late last month that Box "may delay its IPO until June or later." Now it's official. And most likely "later."
The Silicon Valley-based cloud storage company filed its original IPO registration on March 24, but has yet to submit any amended documents that include such information as number of shares to be offered or expected pricing terms. For MOREDan Primack - May 30, 2014 2:02 PM ET
M&A activity is the highest since before the recession, but the benefit of the buying wave has yet to hit the economy.
FORTUNE -- Mergers and acquisitions are back in a big way this year, reaching their highest level since 2007.
The tally of the boom in deal-making is $1.7 trillion so far this year across more than 12,000 deals -- the highest five-month run since before the crisis, when $2.4 trillion worth MORELaura Lorenzetti - May 30, 2014 11:29 AM ET
To get deals in your inbox each morning, sign up for our Term Sheet newsletterVenture Capital Deals
ARMO BioSciences Inc., a Redwood City, Calif.-based developer of immunotherapies for cancer and other diseases, has raised $30 million in Series B funding. NanoDimension led the round, and was joined by return backers Kleiner Perkins Caufield & Byers, OrbiMed and DAG Ventures.www.armobio.com
Hipmunk, a San Francisco-based travel planning and booking site, has raised $20 million in MOREDan Primack - May 30, 2014 10:18 AM ET
Steve Jobs biographer says that the Apple founder would have bought Beats.
FORTUNE -- One of the rallying cries of those opposed to Apple's (AAPL) $3 billion purchase of Beats has been that "this isn't the sort of thing Steve would have done."
Not true says Jobs biographer Walter Isaacson, appearing earlier this morning on CNBC.
Isaacson argues that Jobs and Beats co-founder Jimmy Iovine and Jobs had bonded over their shared love of music, and MOREDan Primack - May 30, 2014 7:56 AM ET
The former New York City mayor and presidential candidate delivered a keynote address that sounded almost like a stump speech, touching on his distaste for the Obama Administration, Bill de Blasio, and even marijuana.
FORTUNE -- Addressing investors over a lunch of Reuben sandwiches, knishes, and sushi, former New York City Mayor Rudy Giuliani evoked the New York of a decade ago, reminiscing about a time when horse-drawn carriages were welcome in Central MOREJen Wieczner - May 30, 2014 5:00 AM ET
House Republicans criticize probe as an "abuse of power."
FORTUNE -- U.S. prosecutors are investigating at least 15 banks and payment processors for facilitating illegal transactions, continuing a crack down on suspected lax customer oversight by financial institutions.
The probe, called "Operation Choke Point," was revealed in documents released by the House Oversight Committee on Thursday, and further detailed in a news report by Reuters.
The DOJ had been investigating four payment processors, a bank MOREBenjamin Snyder - May 29, 2014 8:24 PM ET
|Apple profit soars but iPads slump|
|Is this Apple's new iWatch?|
|Chipotle stock soars on blockbuster earnings|
|Chrysler recalls 792,000 older Jeeps|
|Gun maker relocates fearing stricter state gun laws|