Xiaodi Hou demands the immediate liquidation of TuSimple, seeking to return around $450 million to shareholders due to concerns over asset management and control.
He argues a 2022 voting agreement gave Chen control over TuSimple, which expired in November 2024, aiming to restore his own voting rights and decision-making.
With TuSimple shares trading at $0.24, Hou emphasizes that liquidation would allow shareholders to realize over 700% returns on their investments based on available cash.
Shareholders are alarmed by reports of fund diversion towards animation and gaming ventures connected to Chen, further complicating TuSimple's financial and operational integrity.
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