Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Bezos-backed British startup run by ex-Uber executive is sued for fraud, theft

Published 10/28/2020, 01:04 PM
Updated 10/28/2020, 02:40 PM

By Jonathan Stempel

(Reuters) - A former Uber Technologies (NYSE:UBER) executive who co-founded a British startup backed by billionaire Jeff Bezos has been sued for allegedly stealing trade secrets from a California shipping and logistics company where he was once a board member.

Vanguard Logistics Services (USA) Inc accused Fraser Robinson of conspiring with another former Uber executive to steal algorithms, data and other intellectual property in 2018 to create their "copycat" London-based company, Beacon Technologies Ltd.

The complaint against Robinson and Beacon was filed on Tuesday with the U.S. District Court in Los Angeles.

It seeks what Vanguard, which is based in nearby Long Beach, called "significant" compensatory and punitive damages for the alleged fraudulent conduct and the return of what was stolen.

A Beacon spokesman called the lawsuit "an ill-thought out action which is entirely without merit and which has been brought in the wrong jurisdiction. Any claim will be robustly defended."

Vanguard did not respond to requests for additional comment.

Beacon announced on May 31 it had raised more than $15 million from investors including Bezos and the San Francisco venture capital firm 8VC.

The company's backers also include Uber co-founder Travis Kalanick and former Google (NASDAQ:GOOGL) Chief Executive Eric Schmidt.

Vanguard said Robinson became interested in shipping and logistics in March 2017 when Uber launched the truck-hailing service Uber Freight.

Robinson had overseen Uber operations in Europe, the Middle East and Africa at the time.

Vanguard said Robinson approached its owners, the Mansour family, in late 2017 to work as a consultant and director.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

But it said this was a "charade," and that after winning the family's trust Robinson began stealing confidential information and working secretly with Dmitri Izmailov, the other former Uber executive, to create Beacon.

Robinson and Beacon are the only defendants in the lawsuit.

Beacon says on its website that its mission is to become a logistics and trade finance leader by making trade simpler, more transparent and reliable.

The case is Vanguard Logistics Services (USA) Inc v. Robinson et al, U.S. District Court, Central District of California, No. 20-09880.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.