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August 24, 2015

Opternative cofounder settles suit

As if optometrists' attitudes toward Opternative weren't skeptical enough, company co-founder Steven Lee, a licensed optometrist, may have made things worse.

Just days before Opternative launched last month, Lee settled a lawsuit by the National Board of Examiners in Optometry, the organization that creates the tests all optometrists must pass to earn a state license, according to court records.

NBEO alleged that Lee had copied copyrighted questions from its exams and sold them along with test advice to optometry students.

Lee did not admit liability or wrongdoing, but agreed to pay NBEO $181,200. He agreed to pay as much as $300,000 more if Opternative completes Round A and B funding rounds, or $300,000 in the event of a buyout, according to court records.

— Matt Pilon

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