Former Oura CEO sues company for allegedly withholding 5% equity

Former Oura Health CEO Harpreet Singh Rai has sued the smart ring maker in a California federal court, alleging wrongful termination and breach of contract. Rai says the company removed him to avoid granting him equity worth millions of dollars.

Rai’s lawsuit comes at a time when Oura is already grappling with multiple legal battles worldwide. The company is currently embroiled in disputes with Ultrahuman in both the United States and India, and was also sued by its former promoters and early investors in July this year.

According to the complaint,…