Factory CEO Matan Grinberg accused investor and board adviser Chris Degnan of sharing confidential information with Cognition, which Grinberg considers Factory’s biggest competitor. The dispute became public after Degnan announced he was joining Cognition as chief revenue officer, prompting questions about whether Factory’s sensitive plans may have been exposed.

The two give conflicting accounts of Degnan’s departure and contact with Cognition. Grinberg says Degnan had ongoing talks with the rival while advising Factory and was dismissed on Tuesday; Degnan says he resigned on Monday, had not shared confidential information, and had last attended a Factory board meeting weeks before speaking with Cognition. Factory raised $200 million this month at a $5 billion valuation, while Cognition recently raised $2 billion at a $48 billion valuation.