Electric motorcycle company sues NJ co-founder

Dec 30, 2013

A New Jersey man who co-founded a company that makes high-end electric motorcycles that Time magazine calls one of the top inventions of 2013 is being sued by the company over stock shares.

New Jersey resident Vincent Ip co-founded Mission Motorcycles of San Francisco.

Ip was terminated in November for what the company's lawsuit calls unprofessional behavior including physical threats.

The company claims a stock purchase agreement gives it the right to buy back most of Ip's 300,000 shares of stock. But the suit says Ip claims the agreement is invalid because he signed it under duress.

An attorney representing Ip says that he rejects the 's claims and plans to countersue.

Explore further: Qualcomm may repurchase up to $5 billion shares

3 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Google buying Global IP for $68.2 million

May 18, 2010

(AP) -- Google Inc. is buying Global IP Solutions Holding AB for $68.2 million in cash in a move to expand its Internet video and audio offerings, the companies said Tuesday.

Recommended for you

Ticketfly buying WillCall for on-premise data

7 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

23 hours ago

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0