Fashion-tech startup CaaStle’s CEO Christine Hunsicker has resigned due to allegations that she misrepresented the company’s performance to investors. The board of directors claims that Hunsicker provided misleading financial statements and forged audit opinions. The company now faces a severe liquidity problem and is considering options such as winding down, liquidation, or a strategic transaction. A two-week furlough has been announced for employees, and law enforcement is investigating the matter. Interim CEO George Goldenberg, the company’s chief operating officer, will take over. The board is working to address the company’s challenges, support employees, and preserve its technology and business operations.
