Rail

Messy lawsuit pits Hyperloop One founders against each other

Posted on July 12, 2016

Hyperloop
Hyperloop
LOS ANGELES — Hyperloop One, a startup trying to create the next generation of high-speed travel, which can theoretically transport people and cargo up to 760 mph, is embroiled in a messy lawsuit that pits cofounder against co-founder, CNN Money reports.

The startup, which appeared to be leading the competition with plans to have a working Hyperloop by 2020, was apparently being torn apart by mismanagement and growing tensions between leaders, according to the lawsuit filed in Los Angeles Superior Court on July 12, the report said.

The lawsuit filed by co-founder and former CTO Brogan BamBrogan along with three other former Hyperloop employees.

The lawsuit says Hyperloop One, co-founder Shervin Pishevar, and other leaders mismanaged the company's money, hired family members, and threatened BamBrogan, who was ousted from the company in June, according to CNN Money. For the full story, click here.

View comments or post a comment on this story. (0 Comments)

More News

L.A. Metro add 64 railcars for Red, Purple subway lines

Thirty-four of the new cars, built by China Railway Rolling Stock Corp., will also be used for the Metro Purple Line’s first four-mile extension from the Mid-Wilshire District to Beverly Hills when the line officially opens in 2023.

Poll finds Coloradans favor commuter rail over commuter bus

If passed, House Bill 17-1242 is projected to generate $700 million for new transportation infrastructure in Colorado.

Valley Metro extends 5-year rail service contract with ACI

The company began service operations for Valley Metro Rail prior to the opening in December 2008 and has expanded from the original 20 miles to include six new miles of extensions in 2015 and 2016.

Alstom completes its first signaling project in Serbia

With eight out of 17 lines being dedicated exclusively to freight transport, Pancevo is one of the largest and most important Serbian railway stations.

Metra starts next in-house railcar rehab program

The first round of the program, which began in 2010 and cost $115 million, renovated 176 railcars that were manufactured by Amerail (originally Morrison Knudson) and delivered to Metra between 1995 and 1998.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close