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BrewDog founder James Watt faces GDPR complaints over shareholder emails
BrewDog’s brand and assets were sold to Tilray in March for £33m, wiping out shares held by more than 200,000 crowdfunding investors.
James Watt, the founder of BrewDog, is facing complaints to the UK data privacy watchdog over how he obtained contact details for emails sent to thousands of shareholders ahead of a new bid to buy back control of the beer company, according to the Guardian Business.
The complaints are linked to a plan announced Wednesday in which Watt seeks support from 43,000 former crowdfunding investors, dubbed “equity punks,” through a new venture called Second Best. The proposal involves contacting shareholders to offer them the “exact same stake” in Second Best that they once held in BrewDog, for free.
Several recipients told the outlet they did not understand how Watt had their personal contact details, raising concerns about a potential breach of the GDPR. Watt denied any wrongdoing, saying the messages were sent following legal advice using lawfully obtained data and in connection with shareholders’ legitimate interests.
The Information Commissioner’s Office, which can impose fines or require changes if it finds a GDPR breach, is considering the complaints after former BrewDog shareholders asked it to investigate. BrewDog’s brand, intellectual property, UK breweries and 11 bars were sold to Tilray in March for £33m, rendering the shares of more than 200,000 crowdfunding investors worthless, the Guardian Business reported.