U.S. flying taxi startup steps up legal pressure on rival over trade secrets Reuters 2 hrs ago
CHICAGO, May 19 (Reuters) - Wisk Aero, a flying taxi startup backed by Boeing and Google co-founder Larry Page s Kitty Hawk Corp, asked a California court on Wednesday to stop the alleged use of its trade secrets by rival Archer Aviation and said it was cooperating with a criminal U.S. probe.
Wisk and Archer, a special purpose acquisition company (SPAC) whose investors include United Airlines, compete in the increasingly crowded market for electric vertical takeoff and landing aircraft, or eVTOLs.
Wisk s motion for a preliminary injunction and hearing on July 7 is part of its ongoing litigation against Archer, which it accuses of stealing trade secrets and infringing on its patents as the new Palo Alto-based SPAC seeks to certify its eVOTL aircraft by 2024.
Archer and Wisk compete in the market for so-called electric vertical takeoff and landing aircraft, or eVTOLs. Archer’s valuation soared in April 2020 to $3.8 billion through a merger announced in February with a special purpose acquisition company, or SPAC, orchestrated by investment banker Ken Moelis. Also involved with Archer is United Airlines Holdings Inc.
Wisk asked a federal judge in San Francisco on Wednesday to issue a preliminary injunction prohibiting Archer from using or disclosing the trade secrets, and to compel expedited discovery in the civil case. Wisk alleges the trade secrets include designs for electric-powered aircraft, components and systems, as well as facility inventory and test data.
Flying-Taxi SPAC Accused of Stealing Aircraft Technology
Bloomberg 2 hrs ago Christopher Yasiejko
(Bloomberg) Wisk Aero LLC, a maker of electric-powered aircraft designed for use as flying taxis, claims its technology was stolen by Archer Aviation Inc., a rival startup valued at $3.8 billion in a blank-check deal earlier this year involving United Airlines Holdings Inc. and investment banker Ken Moelis.
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Wisk, a joint venture of Boeing Co. and Google co-founder Larry Page’s Kitty Hawk Corp., alleged a former employee downloaded secret designs before taking a job at Archer, according to a complaint filed Tuesday in federal court in San Jose, California. The companies compete in the market for so-called electric vertical takeoff and landing aircraft, or eVTOLs.
Flying taxi startup Archer plans to go public via SPAC, lands $1 1 billion deal with United bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.