News updates

For the last several weeks, Insight has been playing tug of war trying to force the case into federal court, which would remove unanimous jury requirements. This is a way to delay justice and prevent the case from moving into the discovery phase, which they likely want to avoid because it will force real accountability for their actions.

What has been most interesting to Kate has been their opposition brief documents, in which we’re seeing a classic “if you don’t have the law, pound the facts. If you don’t have the facts, pound the law. If you have neither, pound the table.” Their filings are extreme version of pounding the table. From where she’s sitting, it’s extremely clear that they’re upset their corporate veil is being pierced, and terrified that the lawsuit will touch LP funds. 

They should be - because the documents show that they have significant Abu Dhabi ownership, and also Cayman-based tax strategies. In their responses they tried to claim that there are almost no partners paid in equity at Insight, when virtually all MDs tend to be paid in majority carried interest according to industry reports, and that the 50+ entities under their corporate umbrella have no common management. In reality, their entities are like different rooms in the same house, with doors stage gating capital between them.

In other news, Kate’s first in depth interview about the lawsuit is out, available here.

The Drawdown also recently interviewed her about the state of discrimination in PE.