Capitalism in space: The original investors in Firefly Aerospace, cut out when the company went bankrupt, have filed suit against the reborn company.
A group of original shareholders in the defunct Firefly Space Systems have accused co-founder and CEO Tom Markusic of fraudulently conspiring with Ukrainian billionaire Maxym Polyakov to force the rocket company into bankruptcy in 2017 and reconstitute it under a nearly identical name without giving them any stake in the new venture.
Markusic “betrayed the trust of his original co-founders and investors and committed fraud to cut them out of his aerospace company. Instead of managing the operations of the Original Firefly, a revolutionary rocket company with endless potential, Markusic schemed with…Maxym Polyakov…to rob Plaintiffs of their investments and form a new company called Firefly Aerospace, Inc. (the ‘New Firefly’),” the plaintiffs said in a lawsuit.
The article at the link has a lot more information. Read it all.
This is also not the first time Markusic has been sued. He left Virgin Galactic to found Firefly, and was then sued by Branson’s company for stealing proprietary technology. That lawsuit was settled when Markusic agreed to not use that technology in Firefly’s rockets.
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