Icon Shareholder Suit Claims IP Expropriation to China
A group of minority shareholders have filed a lawsuit against majority shareholders saying they are attempting to move Icon Aircraft IP to China.
(Photo: Matt Thurber/AIN)
(Photo: Matt Thurber/AIN)

A group of minority shareholders of light-sport aircraft manufacturer Icon Aircraft has filed a lawsuit in Delaware Chancery Court against their Chinese majority shareholder counterparts, including Shanghai Pudong Science and Technology Investment (PDSTI), alleging that the latter illegally breached their fiduciary duties and have been attempting to facilitate “expropriation of Icon’s intellectual property [IP] in aircraft design, aircraft manufacturing, and advanced carbon-fiber structures manufacturing to China.”


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