Self-Driving Car Company Zoox Sued Over $1.3 Billion Amazon Deal

Zoox Inc. was sued for records in Delaware by a shareholder looking to probe claims that the self-driving vehicle company’s board and top executives used the Covid-19 pandemic as a pretext to engineer a $1.3 billion proposed sale to Amazon on self-dealing terms.

The share of the proceeds going to public investors is “dwarfed” by the bonuses and Amazon stock rights earmarked for company leadership, the Chancery Court complaint says. “Zoox insiders, directors, and fiduciaries are attempting to divert the lion’s share” to themselves, it adds.

The lawsuit, made public Wednesday, accuses Zoox backers affiliated with Threshold Ventures and Blackbird ...