News summary produced by Claude AI
James Watt, founder of BrewDog, is facing complaints to the UK’s data privacy regulator following his attempt to reacquire the debt-laden brewery earlier this year. BrewDog’s assets were sold to US-based Tilray in March for £33 million, resulting in losses for over 200,000 crowdfunding investors who held shares through the company’s equity offering.
Watt announced a new proposal on Wednesday through a venture called Second Best, claiming support from 43,000 of those investors, referred to as “equity punks.” His plan involved offering former shareholders the same stake they previously held at no cost. However, the initiative triggered concerns after multiple recipients questioned how Watt had obtained their personal contact information, leading to inquiries about potential violations of data protection regulations.
Watt stated that communications were sent using “lawfully obtained data” in connection with shareholders’ legitimate interests, though he did not provide specifics about the data source. Neither Tilray nor AlixPartners, the administrator handling the remainder of BrewDog’s affairs, provided shareholder information for this purpose, according to Guardian reporting. Data protection experts have noted that significant questions remain regarding how recipients were selected and whether the email campaign complied with applicable regulations.
The Information Commissioner’s Office, which enforces UK data protection law, confirmed it is assessing complaints from former shareholders and has authority to impose fines or mandate corrective actions if violations are found. Tilray issued a statement emphasizing it did not share shareholder data with external parties and maintains strict compliance with data protection requirements. The watchdog indicated all complaints would be considered according to its standard investigative process.