TLDR:
- A venture capital and private equity firm sued a Chinese company in California federal court for breaching confidentiality requirements surrounding a planned $150 million investment in Elon Musk’s SpaceX.
- The Chinese company allegedly publicized its involvement in the planned investment, leading to SpaceX rejecting the investment.
Law360 reported that a California-based venture capital and private equity firm has filed a lawsuit against a Chinese company in California federal court. The firm claims that the Chinese company breached strict confidentiality requirements related to a planned $150 million investment in Elon Musk’s SpaceX. The lawsuit alleges that the Chinese company publicized its involvement in the investment, which led to SpaceX rejecting the investment.
The lawsuit was filed in the U.S. District Court for the Northern District of California and names the Chinese company as the defendant. The law firms representing the case are Kirkland & Ellis. Both parties are expected to present their arguments and evidence in court to determine the outcome of the case.
