Canoo filed suit in 2022 alleging that DD Global, one of its largest shareholders, must disgorge the $61 million in alleged profits accrued from the sale of some 35 million Canoo shares in 2021.
October 23, 2024 at 04:08 PM
2 minute read
Electric vehicle startup Canoo has tentatively settled a lawsuit against a group of shareholders that sought more than $61 million for allegedly raking in “short swing” profits.
The details of the agreement were not public, but were announced via a ruling by U.S. District Judge Mary Kay Vyskocil of the Southern District of New York.
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Canoo electric vans. Photo: Randawg72 via Wikimedia Commons
