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Zoom, led by CEO Dave Sanders, is at odds with its venture capital investor. Photo: Zoom

Venture capital firm Endeavour Capital is asking a court in Oregon to appoint a receiver for Zoom, the health care startup that operates clinics and has been under investigation by the FBI for allegedly falsifying medical claims. Endeavour, which has poured $61 million into Zoom, says an independent third party overseeing Zoom would "clear the way for a significant, badly needed cash infusion."

Between the lines: The two sides say they are "deadlocked," but asking for a court-appointed receiver usually indicates a much deeper rift. And in this case, Zoom's finances appear to be on the line. Zoom did not immediately respond to questions.

The gritty details: Zoom has a four-person board: CEO and co-founder Dave Sanders, the other co-founder Albert DiPiero and two representatives from Endeavour. Since March, the two sides have been at odds over vague "company governance issues" as well as new money that needs to be injected into Zoom, which has laid off several people and had shut down its health insurance company.

Oregon law allows for a court-appointed receiver "in the event of a corporate deadlock or prospective insolvency," and Endeavour is asking for an expedited hearing.

What we're hearing: Sources familiar with Zoom's operations have said the company's finances have been in trouble since last year, when Sanders realized an Affordable Care Act program called risk adjustment would cost Zoom a lot of money. Risk adjustment is at the heart of the FBI's investigation into Zoom.

Go deeper

House passes sweeping election and anti-corruption bill

Photo: Win McNamee via Getty Images

The House voted 220-210Wednesday to pass Democrats' expansive election and anti-corruption bill.

Why it matters: Expanding voting access has been a top priority for Democrats for years, but the House passage of the For the People Act (H.R. 1) comes as states across the country consider legislation to rollback voting access in the aftermath of former President Trump's loss.

Updated 3 hours ago - Politics & Policy

House passes George Floyd Justice in Policing Act

Photo: Stephen Maturen via Getty Images

The House voted 220 to 212 on Wednesday evening to pass a policing bill named for George Floyd, the Black man whose death in Minneapolis last year led to nationwide protests against police brutality and racial injustice.

Why it matters: The legislation overhauls qualified immunity for police officers, bans chokeholds at the federal level, prohibits no-knock warrants in federal drug cases and outlaws racial profiling.

5 hours ago - Politics & Policy

Senate Republicans plan to exact pain before COVID relief vote

Sen. Ron Johnson. Photo: Stefani Reynolds/Bloomberg via Getty Images

Republicans are demanding a full, 600-page bill reading — and painful, multi-hour "vote-a-rama" — as Democrats forge ahead with their plan to pass President Biden's $1.9 trillion COVID-19 relief package.

Why it matters: The procedural war is aimed at forcing Democrats to defend several parts the GOP considers unnecessary and partisan. While the process won't substantially impact the final version of the mammoth bill, it'll provide plenty of ammunition for future campaign messaging.