“Frivolous lawsuits like this one have become all too common against start-ups that achieve breakthrough success. It is almost a cliché. It is also a measure of Hyperloop's success. The company continues to recruit top talent, secure significant funding from global investors and accelerate toward its technology milestones.”
The response from the plaintiffs legal party was: “The company’s statement is long on rhetoric and short on facts. The company’s spin is belied by the facts and the chronology of events, as laid out in great detail in the Complaint.
“Plaintiffs and seven other top employees quietly approached the Defendants in May with reasonable proposals to set the company back on the right track. They were met with hostility, threats of costly legal fights, and a noose. Defendants violated California law and they will be held accountable.”
But finally, the battling has ended.
The company has issued a statement saying: “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.”
The counsel for the employees who filed the original suit wrote: “My clients are pleased to announce that they have reached a confidential resolution of litigation with their former employer and look forward to moving on with their future plans.”
It seems that the aforementioned future plans are likely to be a competitor, as confirmed by a statement sent to Business Insider: “We are planning to build rad shit with rad people, starting with our take on hyperloop. More to come in the near future.”
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