The former chief executive of Segway Inc., maker of the iconic two-wheeled scooter, on Thursday defeated the company’s effort to hold her accountable in court for its past accounting problems.
A Delaware judge ruled for ex-CEO Judy Cai, saying the lawsuit failed to show oversight failures on her part. The suit said Cai should have known of “potential issues” that led sales to fall while unpaid customer bills piled up. Segway—acquired in 2015 by China’s Ninebot Inc.—stopping making its signature two-wheeler in 2020.
The judge, Vice Chancellor Lori W. Will, rejected the idea that corporate executives have greater oversight ...
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