Just one year after going public with a market value approaching $500 million, Foxo Technologies, which aims to use artificial intelligence and innovations in genetics to help underwrite life insurance, has terminated general counsel Michael Will ”due to the company’s current financial constraints and the need to reduce its staff.”

The company, which reported having only $215,000 in cash as of June 30 and is warning of a possible bankruptcy, said Will now will serve as a contractor on an as-needed basis. Its stock, which debuted at $9.15 following a special purpose acquisition company merger, now fetches only 11 cents.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]