[cco]

I must be still confused. The startup employee knows what their strike price was and here Carta was offering to hook them up with a buyer for those shares at price $X (which I presume is/was different than the strike price of the employee).

Maybe I'm misunderstanding? But that doesn't seem like they're sharing cap table data with anyone. They've found a buyer for the employee's shares at some price. Is it implied that they shared the cap table info with that buyer (i.e. the third party investor)?

[weeblewobble]

The information that person X owns Y shares is private cap table info. Carta breached that privacy by using it for lead generation

[siegel]

I think "privacy" here is the wrong word. Carta owes some obligations to companies that sign up or their services (though they are vague and ambiguous).

But I hope people wake up to what they are agreeing to when they sign up as a user for Carta. Carta makes you agree that they owe you NO duty of confidentiality with respect to any information you submit into the service.