THE WHAT? Revolution Beauty is preparing to sue former CEO and Co-founder, Adam Minto for breach of fiduciary duty, according to a report published by the Financial Times.

THE DETAILS The make-up brand alleges that Minto has breached his fiduciary, statutory, contractual or tortious duties to the company, contributing to its failure to deliver timely audited accounts, which in turn led to its suspension from the junior Aim market last fall.

THE WHY? Revolution said in a statement, per the Financial Times, “The company is looking to recover material sums relating to the exceptional costs the company incurred as a result of the matters alleged.”