Hyperloop One has settled its lawsuit with former employees
"Hyperloop One is pleased to announce that it has reached a confidential resolution of litigation with its former employees and looks forward to continuing to execute on its business plan," Hyperloop One wrote in a statement.
Brogan BamBrogan, co-founder and former chief technology officer, and several other employees are sued Hyperloop One on claims that the company executives allegedly misused funds, breached their fiduciary duty, violated California labor code, and even assaulted at least one employee by placing a noose on his desk seat.
The defendants in the Hyperloop One case - which included Shervin Pishevar, co-founder and chairman, and CEO Robert Lloyd - had filed a counter lawsuit at the time accusing BamBrogan and the other employees of manufacturing a rebellion "in a transparent attempt to seize control of the company."
The litigation has been settled, and the Hyperloop One staff is being informed of the news.
This story is breaking, check back for updates.
NOW WATCH: Here's how the Hyperloop will work
- RBI extends deadline to exchange, deposit Rs 2,000 notes till Oct 7
- Explained: TCS on your child's overseas education and mitigating strategies
- From Pixel 8 to Galaxy S23 FE – smartphones launching in October 2023
- World Cup 2023 final squads – Ind, Aus, Eng and all the other teams
- Eating your way to clear vision: 10 foods for healthy eyes