Figure AI sent cease-and-desist letters to secondary markets brokers

Quick Summary:

Last month, Brett Adcock, founder of a robotics startup Figure AI, claimed in a post on X that his company “is now # 1 most sought-after private stock in the secondary market.” But the company has sent cease-and-desist letters to at least two brokers who run secondary marketplaces, those brokers told TechCrunch.

Because Figure is a private company, not a public one, its stock cannot be easily sold at will by its investors, particularly without a company-authorized event.

Desai, naturally, argues that the reverse could be true: active secondary market trading could attract more interest for primary shares in a new raise.

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Article Details

Author / Journalist: Marina Temkin

Category: Technology

Markets: United States

Topics: Secondary market Robotics Exclusive Venture Fundraising Figure ai AI

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 22:59:22 (1 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 596 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 28291190

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