Hyperloop One sues its cofounder, claiming he was part of a 'Gang of Four'

Hyperloop One has now sued its cofounder for $250 million, claiming he was part of a “Gang of Four” and in a plot to take over the company.

“Today’s lawsuit demonstrates that these four men staged a failed coup to try to take over Hyperloop One and then conspired to start their own competing company,” said Orin Snyder, Hyperloop’s attorney and a partner at Gibson Dunn, in an e-mailed statement to CNBC. “Hyperloop One’s board and management are unified in standing up to this illicit attack on the company, and today the company is stronger than ever in its mission to bring the Hyperloop to the world.”

The lawsuit comes in relatiation after cofounder Brogan BamBrogan filed a lawsuit against the company on July 12, alleging that the company had misused its funds and mistreated employees.


NOW WATCH: You can print your photos as pancakes now

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

hyperloop one sai-us