Credit: Atstock Productions/Adobe Stock AI Startup Faces Breach of Contract Over $15M In Earnout Payments
This suit was surfaced by Law.com Radar. Read the complaint here.
September 25, 2023 at 11:26 AM
1 minute read
Commercial Litigation
Anduril Industries, a defense technology startup that leverages AI for threat detection, was hit with a breach-of-contract lawsuit on Sept. 22 in Delaware Court of Chancery. The suit was filed by Cozen O'Connor on behalf of Nicholas Alley in his capacity as a former shareholder of military drone developer Area-I LLC, which was purchased by Anduril in 2021. According to the complaint, Anduril diverted revenue and impaired Area-I's operations in order to avoid making over $15 million in earnout payments. Counsel have not yet appeared for the defendant. The case is 2023-0958-, Alley v Anduril Industries Inc.
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