BrewDog founder James Watt faces data privacy complaints over shareholder emails
8 reported2 unconfirmed
James Watt, the founder of BrewDog who sold the debt-laden brewer earlier this year, is the subject of complaints to the UK’s data privacy watchdog linked to his surprise bid to buy the company back, according to a single-source report. BrewDog’s brand, intellectual property, UK breweries and 11 bars were sold to the US cannabis and drinks firm Tilray in March for £33m, rendering shares of more than 200,000 crowdfunding investors worthless. On Wednesday, Watt announced a plan to wrest back control with support from 43,000 investors via a new venture called Second Best, offering them the same stake they once held in BrewDog for free. Several sources who received an email from Watt said they did not understand how he had their contact details, raising concerns about a potential breach of GDPR. Watt denied any wrongdoing, stating the communication was sent using lawfully obtained data, but did not explain how the details were obtained. The Information Commissioner’s Office (ICO) has been asked to investigate by several former shareholders and is now considering the complaints. Neither Tilray nor AlixPartners, the administrator of the remainder of BrewDog, provided any such information to Watt, according to the report.
What’s reported
James Watt sold BrewDog’s brand, IP, UK breweries, and 11 bars to Tilray in March for £33m.
More than 200,000 crowdfunding investors’ shares were rendered worthless in that deal.
On Wednesday, Watt announced a plan to buy back the company via Second Best, with support from 43,000 investors.
Watt offered those investors the same stake in Second Best that they held in BrewDog, for free.
Several recipients of Watt’s email said they did not know how he got their contact details.
Watt denied wrongdoing, saying the data was lawfully obtained and used following legal advice.
The ICO has been asked to investigate by several former shareholders and is considering the complaints.
Neither Tilray nor AlixPartners provided shareholder data to Watt, according to the report.
Open questions
How James Watt obtained the contact details of former BrewDog shareholders.
Whether the ICO will take action on the complaints.
Key figures
James Watt, BrewDog founder
Marc Knox, former equity punk
Ravi Naik, legal director at AWO
A spokesperson for Tilray
The Information Commissioner’s Office (ICO)
Sources: The Guardian
