Zenefits is executing a change in its current ownership structure that will increase the overall ownership of the company for late-stage investors; it’s a move that revalues the company’s Series C round at $2 billion and looks to placate investor concerns over the company’s regulatory investigations. As part of accepting the new ownership changes, the investors participating will sign a release of claims against the company. It’s another move that new CEO David Sacks is doing in what’s been a massive cleanup effort of the company following report after report of the company skirting insurance regulation. Since all those regulatory issues came to light, the company has laid off more than 350 employees and parted ways with its former CEO Parker Conrad. The biggest issue stemmed from a program called “The Macro” that would aid in circumventing state licensing requirements.

https://techcrunch.com/2016/06/30/zenefits-revalues-itself-at-2-billion-giving-later-shareholders-more-ownership/