bill lonergan, who is taking over, he has been a finance and operations guide to run his career.e was the cfo of blue lithium, the company that chahal founded before selling it. he is not a startup ceo. whether this is the long-term answer to who will run the company, we do not know that yet. >> may be the most inflammatory thing that he said yesterday was that he said the board compelled him to take the plea, that he wanted to fight in court and become exonerated. it runs a direct quote in my story, the board wanted me to settle the so we could go on with the ipo. he is leveling the charge against his board of directors that they compelled him to take the police so they could get their payout in the ipo faster than they would otherwise if you are fighting it. >> in terms of timing, what have you heard? are the plans the same, will it be postponed? >> a spokesperson for the company would not say. it is small enough, they could file anytime now. we know they are coming close. >> it is ironic this is all happening at the same time, in the same week literally. >> it is not a coincid

bill lonergan, the ceo of the company, will take over the company, which was in the stages of an ipo.ory johnson is with me as well as ari levy. you were speaking with chahal over the weekend. what did he have to say? >> he was shocked. it had been 10 days. he pled guilty to the charges, charges happened about six months ago he pleaded guilty, paid the fine. the board waited until april 26 to do anything about it. he had many more to meeting since then, so i think >> he is surprised. -- so i think he is apprised. was notg to chahal, it the charges itself, but the criticism of it. >> obviously a dramatic story. this had been going on for two years since the original charges were filed. if you think about his position, 45 felony accounts, convicted of none of them. a $500t he had to pay fine and do some community service. what is the big deal? perspective,oard's this company will be going public, we will have to answer to investors. investors will have a lot of questions about this company because it is an ad tech company. having to answer the question, why is the ceo, who pleaded guilt