Thorsten Heins, the ex-CEO of BlackBerry, is being sued by three members of the board of Powermat Technologies, where he is now CEO, for allegedly running it without an approved budget.
The lawsuit, which was revealed by CNET, also alleges there’s a “serious trust crisis” on the company’s board. Heins has been running the company into insolvency, the lawsuit claims.
Powermat Technologies is an Israeli firm that offers wireless charging for restaurants and airports, among other locations. The company had a valuation of $500 million (£330 million) in late 2014 when Heins became CEO.
The lawsuit seeks to stop Powermat Technologies from operating without an approved budget, according to CNET.
Heins has denied the allegations. “It is clear that the accusations the petitioners are making against me and my management team are baseless,” he said in an affidavit seen by CNET.
Before Powermat, Heins was the CEO of BlackBerry. He stepped down in late 2013 after failing to turn the company around. BlackBerry is now pivoting to become a software company, aiming for $500 million (£330 million) in software-related revenues by March next year.
The lawsuit was filed in October and it is unclear when it will progress.
Business Insider has reached out to Powermat for comment and will update when we hear back.
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