BrewDog Founder Faces Data Privacy Complaints Over Shares Buy-Back Bid

Complaints Emerge Over Data Use

James Watt, the founder of BrewDog, is facing complaints from former shareholders over data privacy concerns related to his recent buy-back bid. These investors are questioning how Watt managed to obtain their contact details for the proposal, leading to an investigation by the UK's data privacy watchdog, the Information Commissioner’s Office (ICO).

Data Controversy Surrounds Equity Proposal

Watt recently launched a buy-back bid called Second Best with support from 43,000 shareholders, known as 'equity punks.' According to several sources who received emails from Watt, the method by which he obtained their personal information is unclear. This has raised concerns about potential GDPR breaches.

Watt stated that his communication was sent using lawfully obtained data and in connection with the shareholders' legitimate interests as investors, but did not provide further details on how these details were acquired.

No Data Shared by Acquisition Parties

Neither Tilray nor AlixPartners, who administered BrewDog’s sale to Tilray, provided any shareholder data during the transaction. This has left many wondering about the source of Watt's contact information and whether it was obtained legally.

Legal Expert Questions Compliance

Ravi Naik, a legal director at AWO, a data protection specialist firm, expressed skepticism over the compliance of the email campaign with GDPR. He stated, 'There seem to be questions to answer and the ICO should explain if they plan to take action on these complaints.' This includes concerns about how people were selected for the email list and whether the campaign was in line with legal requirements.

Official Statements Deny Involvement

A spokesperson from Tilray clarified that their company did not acquire Equity for Punks shareholder data as part of the BrewDog sale. They emphasized, 'Tilray Brands (trading as BrewDog) and its current management team have no involvement in, affiliation with, or responsibility for James Watt’s business activities.' The statement also denied any unauthorized sharing of data and confirmed strict compliance with GDPR.

Source: The Guardian