Ford Fired, Ripped Off Founders of Acquisition, Suit Says (1)

A Ford Motor Co. tech subsidiary was hit with a lawsuit in Delaware Chancery Court alleging it fired the co-founders of acquisition Journey Holding Corp. in “a thinly veiled attempt” to “wrongfully pocket” part of what it owed them for the “highly profitable” vehicle tracking software company.

The automaker hit the founders with bad faith accusations—"loosely premised” on vague allegations of “fraud” and “misappropriation"—in a bid to cook up a “sham” pretext for firing them a month before the last 30% of the unspecified purchase price began vesting, the partly redacted complaint says.

The company eventually fleshed out its assertions ...