Eos CEO cheated co-founder out of 20% stake in company, suit claims

The head of Eos, the maker of a popular egg-shaped lip balm, is an “unscrupulous” executive with a pattern of cheating his business partners, a new lawsuit claims.

Eos CEO Jonathan Teller booted co-founder Bion Bartning in 2008 and then proceeded to cut Bartning out of his stake in the company, according to a new complaint filed in New York state court.

Bartning learned that his 20 percent stake in Eos’ holding company, The Kind Group, had been whittled down to 0.1 percent only after reading about how Teller had similarly booted Eos co-CEO Sanjiv Mehra in The Post last October, the lawsuit said.

“It was his understanding that Kind Group was reinvesting his shares and that his payout would come when and if the company was sold,” according to Bartning’s attorney, Mari Bonthuis.

Teller’s “animus” towards Bartning, which included “offensive comments” regarding his Mexican heritage, was so great that a “healer” was brought into the company’s Manhattan offices after he was fired to “cleanse” it of Bartning’s “spirit,” according to the complaint.

As The Post reported last year, Mehra accused Teller of misusing Eos money, including hiring a “fortune teller” to advise the company on expansion plans. Mehra said Teller orchestrated his ouster after he complained about Teller’s spending.

Neither Eos nor Teller responded to a request for comment.

Follow 3-www.NET
Follow
e-News.US
  
Share
e-News.Us

Category Latest Posts