Xiaodi Hou, the co-founder of TuSimple, is seeking a temporary restraining order to prevent the company from transferring U.S. assets to China, fearing misuse of investor funds.
In a declaration to the California court, Hou argues that TuSimple's leadership is misappropriating company capital to fund unrelated ventures in AI gaming and animation without shareholder consent.
Hou, now leading Bot Auto, claims TuSimple's leaders concealed their shift from autonomous trucking to AI-based gaming, violating SEC regulations and neglecting shareholder rights.
Despite a significant market valuation in 2021, TuSimple's transition to new business focuses has raised concerns among shareholders, prompting formal complaints regarding the company's operational transparency.
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