EOS founder and co-CEO, Sanjiv Mehra, files lawsuit to protect his rights in EOS Products

NEW YORK, Oct. 15, 2019 /PRNewswire/ -- Sanjiv Mehra, a co-founder and co-CEO of EOS Products, best known for its multi-colored, spherical lip balms, filed a lawsuit in Delaware Chancery Court, alleging that Mehra's business partner, Jonathan Teller, is trying to strip him of his economic rights to the business, in breach of Teller's fiduciary duties and contractual obligations.

EOS is a popular brand of lip balms, shaving cream, and lotions that markets to millennial consumers. The business was a successful startup growing from an idea to currently employing about 150 people with offices in New York, London, Berlin, Shanghai, Mexico City, and Stockholm. EOS was endorsed by celebrities including Miley Cyrus, Demi Lovato, and Britney Spears and later got negative publicity from class-action lawsuits claiming that the lip balm caused a rash.

Mehra's lawsuit alleges that Teller's actions were motivated by Teller's deteriorating personal financial situation and that Teller used pretextual, sham corporate actions to try and squeeze Mehra out of EOS. The lawsuit alleges that Teller put his personal desire for cash ahead of the business's liquidity needs and, unhappy with the necessary financial controls Mehra put in place to keep the business afloat, is now attempting to gain control over Mehra's share.

Mehra's lawyer, Patrick Smith of Smith Villazor LLP, explained, "As we allege, Mr. Teller, in violation of his fiduciary duties and contractual obligations, concocted a 'deadlock' between himself and Mr. Mehra, purported to dissolve EOS's parent company, and unlawfully barred Mr. Mehra from EOS's office, all as part of a scheme to deprive our client of his economic rights in the business he built. Our client founded the business, and with his experience and effort made it a success. We will aggressively pursue this case against Mr. Teller and those who assisted him in this scheme."

About Patrick Smith and Smith Villazor LLP
Patrick Smith, a former federal prosecutor in the Southern District of New York, is the co-founder of Smith Villazor LLP, a leading New York litigation boutique. Noted legal industry publication Chambers & Partners wrote that Smith "is held in high regard for his expert representation of individual and institutional financial services clients facing courtroom proceedings, enforcement actions and regulatory investigations. Sources describe him as 'an extraordinarily gifted lawyer who has a great ability to assess a case and figure out the key points that others might overlook or not understand.'"

About Sanjiv Mehra
Sanjiv Mehra is the co-founder and co-CEO of EOS Products, where he spearheaded the branding and profitability strategies for its iconic, sphere-shaped lip balms. He has decades of experience in the consumer-goods industry, including roles as a core senior executive member of Unilever's North American Home & Personal Care Division and as part of a team of leaders that built PepsiCo's operations in India and other international markets.

SOURCE Smith Villazor LLP

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