U.S. District Judge Mary Kay Vyskocil of the Southern District of New York on Thursday allowed electric vehicle startup Canoo to move forward with a lawsuit against one of its investors, DD Global Holdings, amid a disagreement about disgorgement of “short-swing” profits that Canoo claims DD Global realized.

Vyskocil denied DD Global’s motion to dismiss, rejecting arguments from the investor’s attorneys at Skadden, Arps, Slate, Meagher & Flom that the court lacked personal jurisdiction and that Canoo failed to state a claim.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]