THE CHAIRMAN OF MCGUIREWOODS’ FINTECH
practice in San Francisco has left the firm
to take the reins of the legal department
at PayActiv Inc. as the fintech company’s
first top lawyer.
The Silicon Valley-based startup
announced DAVID REIDY was hired as chief
legal officer on Jan. 8. He now oversees all
legal, compliance and legislative issues for
the company, which has plans for international expansion and is facing a racial
discrimination lawsuit from one of its former managers.
PayActiv offers payday advances to
workers in exchange for a $5 membership fee that users pay
during the periods that
they use the company’s
services for early access
to earned wages. The
firm expanded nationwide in 2018 and has
raised $17.2 million
in funding, according to its website. The
company has partnerships with ADP,
Uber Technologies Inc., Visa Inc. and
Reidy wrote in an email in early Janu-
ary that PayActiv “will be closely follow-
ing the progress of California Senate Bill
472, which would create specific licens-
ing for earned wage access providers in
He also noted that California is
expected to revamp its Department of
Financial Protection and Innovation.
Reidy joined McGuire Woods in 2016
after more than a decade at Reed Smith.
During his time at the former firm, he
“was already active in managing legal
issues” for PayActiv, the company stated
in a news release.
In July 2019, Pedro Ibarra, a former
manager at PayActiv, filed a whistle-
blower suit in California state court
alleging that the company and its found-
ers fired him after he complained about
The suit also raises questions about
“whether the company is acting like a regular payday lender and therefore should
be classified as a creditor,” according to a
report from The San Jose Mercury News.
The plaintiff’s attorney, Shawn Tillis
of Winer, McKenna, Burritt & Tillis in
Oakland, California, said in an interview
Jan. 8 that PayActiv had filed a motion to
compel arbitration and has yet to answer
“My client does not want it in arbitration. He wants it out in the open in the
full light of day,” Tillis added.
COTY HIRES NEW IN-HOUSE
NEW YORK-BASED COTY INC., ONE OF THE
world’s largest beauty products companies,
has hired former Keurig Dr. Pepper Inc.
in-house leader KRISTIN BLAZEWICZ as chief
legal officer, general counsel and secretary
of the board of directors.
Blazewicz, who also
has a seat on Coty’s exec-
utive committee, starts
her new job on March
15 and will be based in
Amsterdam. She suc-
ceeds Greer McMul-
len, “who has decided
to leave the company,“
according to a Jan. 20 announcement.
Blazewicz will report to Coty CEO
Pierre Laubies, who said in a statement
that his new top lawyer’s “deep expertise
in legal affairs and track record of success
will be a great addition to the Coty Executive Committee, and we are looking forward to having her on board soon.”
As CLO, Blazewicz will oversee
Coty’s global legal matters with “a strong
focus on supporting our transformation
towards a better and healthier business
from a legal perspective,” the company
stated in a news release.
FINTECH STARTUP PAYACTIV HIRES NEW CLO