Tuesday, July 19, 2016

Hyperloop One Countersues BamBrogan For $250M

Los Angeles-based Hyperloop One, the high flying startup which has been working on high speed, tube-based transportation systems first envisioned by Elon Musk, has countersued former founder and executive Brogan BamBrogan, for launching a "smear campaign" against the company. Hyperloop One is seeking $250M in damages from BamBrogan. Hyperloop One saw a flurry of negative press over the structure of the company and control of the firm by venture capitalist Shervin Pishevar, including an article in the LA Times published on Tuesday morning. BamBrogan has his own lawsuit pending against his former company, and had filed for a restraining order against Pishevar, which was turned down by a judge last week.