Hyperdrive
Electric-Vehicle Startup Canoo Sues Investor With China Ties
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Canoo Inc. accused its second-largest shareholder of wrongfully benefiting from recent share sales, and is trying in a lawsuit to claw back those profits.
The electric-vehicle startup says that DD Global Holdings Ltd., a Cayman Islands firm, should pay back more than $61 million in so-called “short swing” profits, according to a complaint filed Monday in federal court in Manhattan.