Alira Exposed: Unlawful Business Practices, Fraud & Lawsuits

ALESSANDRO MONTEROSSO v. ALIRA HEALTH GROUP HOLDINGS and GABRIELE BRAMBILLA:

“... Brambilla concealed and failed to disclose the extent of Alira’s liabilities, including plans to raise additional capital, which would directly impact Alira’s market capitalization.”

“...under Brambilla’s direction, Alira manipulated its stock price upwards to personally enrich Brambilla and then significantly downward to deprive Plaintiff of the fair consideration for his sale of PatchAi. Defendants’ unfair and deceptive conduct in the acquisition of PatchAi was part of a larger pattern and practice deployed to acquire multiple companies around the same time. Defendants used those acquisitions to drive up Alira’s valuation until Brambilla sold a significant amount of the Alira shares he owned (through an entity known as Leonino), after which time Alira deliberately deflated Alira’s value and took other steps to suppress payouts and other consideration due or belonging to the shareholders who sold their companies to Alira.” 

“...Brambilla directly controlled the valuation process at the time of each stock sale, ensuring that Brambilla received top dollar for his shares while other investors received substantially deflated values.”

“...Brambilla made promises to shareholders and investors regarding the anticipated performance of these startups, including PatchAi, which later were learned to have been exaggerated and unrealistic in order that they would not be met. Then, when the performance goals were inevitably not met, Defendants used that to claim there were grounds upon which to terminate the employment of the startup founders who had joined Alira as part of the sale of their companies. Those terminations – including Plaintiff’s termination – triggered Alira’s putative right to then buy back the startup founders’ shares in Alira for a fraction of what the share price had been previously, due to Defendants’ deceptive suppression of Alira’s stock price at that time.”

“...Brambilla confirmed that he was using the valuations of Alira and timing of the Call Notice at his whim to deprive Plaintiff of fair consideration, including during a call on or about June 28, 2023, during which Plaintiff raised concerns that Alira had an ulterior motive to claw back his shares for less than fair value.”

“...In connection with the acts and conduct alleged, Defendants used means and instrumentalities of interstate commerce, including the U.S. mails, interstate telephone communications, and the U.S. banking system, to perpetuate their fraudulent scheme.”