Xiaodi Hou Seeks TuSimple Liquidation

This is a TuSimple news story, published by TechCrunch, that relates primarily to Chen news.

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TuSimple co-founder demands liquidation, sues company for control of his shares | TechCrunch

Summary

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TuSimple co-founder and former CEO of self-driving truck startup wants to liquidate the company and return $450 million to shareholders.

Xiaodi Hou is also suing TuSimple and its former CEO to confirm that a 2022 voting agreement granting Chen control over TuSimple expired in November 2024 .

Hou and other shareholders have accused TuSimple ’s leaders of diverting assets towards animation and gaming businesses linked to Chen .

On November 9 , Hou signed an agreement with Chen that would give the latter “irrevocable proxy and power of attorney” over Hou ’s shares in TuSimple .

Hou says this means the shares should revert back to him.

Chen says he controls 57.9% of the company's voting power.

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