Luminar Technologies Inc. and a subsidiary’s former leader must defend against allegations they intentionally or recklessly misled shareholders with an image of a competitor’s technology in a presentation.
The investor leading the case made sufficient allegations for the court to draw an inference executive Mike McAuliffe could have known the challenged image wasn’t Luminar’s chip, Judge
“Additionally, a reasonable person would find it improbable that McAuliffe—who was charged with monitoring and presenting on Luminar’s technology—would have thought that displaying a competitor’s chip could not present a danger of misleading investors at an event where Luminar ...