1. Sumi Munshani vs. Signal Lake Venture Capital Fund II, LP

2. Background Munshani filed a complaint Munshani filed a complaint claimed to be entitled to over $25 million claimed to be entitled to over $25 million fair value of services rendered fair value of services rendered In connection with a venture capital deal In connection with a venture capital deal An email was used to issue purchase orders An email was used to issue purchase orders Hemant Trivedi is CEO of Terago Communications Hemant Trivedi is CEO of Terago Communications

3. Case 2 A broker dealing with venture capital makes some purchases for a client A broker dealing with venture capital makes some purchases for a client purchases totaled over $25 million purchases totaled over $25 million Brokerage firm charges client Brokerage firm charges client Client denies ever making the purchase Client denies ever making the purchase Broker produces an email authorizing the purchase Broker produces an email authorizing the purchase Client still denies and refuses payment Client still denies and refuses payment

4. Case 2 (page 2) Broker sues client Broker sues client Special master is called in Special master is called in Combs through files Combs through files Finds that the UNIX timestamp on the email matched a prior valid email Finds that the UNIX timestamp on the email matched a prior valid email Broker had altered email message Broker had altered email message Problem of confidentiality Problem of confidentiality

5. From the Shear Report by Kenneth Shear by Kenneth Shear Munshani v. Signal Lake Venture Fund II, et al Munshani v. Signal Lake Venture Fund II, et al Email headers are on the next two slides Email headers are on the next two slides