"Luminar founder and former CEO Austin Russell has agreed to accept an electronic subpoena for information on his phone related to the company, as part of the lidar-maker's ongoing bankruptcy proceeding, per a new filing Tuesday. Russell now has seven days to file a motion to quash the subpoena, or object to it - otherwise he has 14 days to comply, according to the filing."
"Luminar filed for Chapter 11 bankruptcy protection in December after losing major contracts with customers like Volvo and Mercedes-Benz, as well as rising competition from lidar companies in China. Luminar reached a deal last week with a company called Quantum Computing Inc. (QCI) to sell its lidar assets for $22 million. (Luminar is also trying to sell its semiconductor division to QCI for $110 million.)"
"Representatives for his new venture, Russell AI Labs, have told TechCrunch that he remains interested in submitting a bid for Luminar's lidar assets, but a formal offer has not yet been submitted. Luminar has been seeking information from Russell since his resignation as it decides whether to take legal action against him. The founder has already turned over multiple computers, but held on to his phone because of privacy concerns."
Austin Russell agreed to accept an electronic subpoena for information on his phone related to Luminar's bankruptcy proceeding and has set deadlines to object or comply. The parties agreed to negotiate procedures to protect personal information after Russell raised privacy concerns. Luminar filed for Chapter 11 following lost contracts and rising competition. The company reached a $22 million deal with Quantum Computing Inc. for lidar assets and scheduled an auction to solicit higher bids. Russell previously resigned amid an ethics inquiry, attempted to buy the company, and has turned over multiple computers while retaining his phone.
Read at TechCrunch
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