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TuSimple’s former CEO wants a new board that will liquidate the company

TuSimple co-founder and former CEO Xiaodi Hou is on a war path in the lead up to Friday’s annual shareholder meeting that will decide the makeup of the company’s board of directors.Β  Over the past several weeks, Hou has sued TuSimple for control of his voting rights, demanded the company immediately liquidate and return all […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

TuSimple co-founder demands liquidation, sues company for control of his shares

Xiaodi Hou, the co-founder and former CEO of self-driving truck startup TuSimple, is demanding that the board immediately liquidate the company and return all remaining funds β€” roughly $450 million β€” to shareholders β€œon a pure pro-rata basis, regardless of share class,” according to a letter that TechCrunch has viewed.Β  Hou is also suing TuSimple […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

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