Hyperloop One has settled a breach of fiduciary lawsuit brought by Brogan BamBrogan, its former chief technology officer and co-founder, and three other employees.
In a complaint filed July in Los Angeles Superior Court, BamBrogan claimed he was fire after he was critical of Hyperloop One Board Chairman Shervin Pishevar’s management of the company, whose behavior he claimed was tantamount to a breach of fiduciary duty.
Despite initially dismissing the lawsuit as “nonsense” and “frivolous,” a Hyperloop One spokesman said the company wished to move on and focus on its business, reported CNBC.
Terms of the settlement we not disclosed.
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