Yes the second article is about the appeal. UCal did not wish to be kicked out of Sequoia funds so they played up the internet bubble funds to present to the judge.
It was the disclosure on negative IRRs that led to the first article that got them disinvited from Sequoia iirc. UC was just obeying disclosure laws. Do you remember differently?
Of course, VCs could just release their performance history numbers so that investors and prospective entrepreneurs know what the percentages are. Who does it serve that they don't release these numbers?
