• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jamie Dimon and his wife, Judith, donate $12 million to 12 HBCUs—betting they're the 'springboard to success' for the next generation

2

Venezuela abandoning the bolivar and adopting the U.S. dollar would be the biggest currency switch since the advent of the euro, Hanke says

3

Dolly Parton’s philanthropy inspiration was her father who couldn't read or write: 'I saw how crippling that could be'

1

Jamie Dimon and his wife, Judith, donate $12 million to 12 HBCUs—betting they're the 'springboard to success' for the next generation

2

Venezuela abandoning the bolivar and adopting the U.S. dollar would be the biggest currency switch since the advent of the euro, Hanke says

3

Dolly Parton’s philanthropy inspiration was her father who couldn't read or write: 'I saw how crippling that could be'
TechGeneral Motors

GM’s $1 Billion Acquisition Caught in Legal Battle

By
Kia Kokalitcheva
Kia Kokalitcheva
Down Arrow Button Icon
By
Kia Kokalitcheva
Kia Kokalitcheva
Down Arrow Button Icon
April 13, 2016, 9:43 PM ET
GM Talks
FILE - In this Jan. 12, 2009 file photo, the General Motors logo is seen on display at the North American International Auto Show in Detroit. The clock is ticking on a June 1 deadline for General Motors Corp. to restructure, and this make-or-break week is expected to bring more plant closures, employee concessions and other last-minute efforts. (AP Photo/Paul Sancya, File)Photograph by Paul Sancya — AP
Add Fortune on Google for similar content.

General Motors’ $1 billion acquisition of autonomous driving startup Cruise might not all be smooth driving.

Cruise founder and CEO Kyle Vogt has filed a complaint in San Francisco Superior Court against Jeremy Guillory, who he says is unjustly claiming a stake in the company. The lawsuit asks that Guillory be barred from making those claims.

According to the complaint, the two men met just after Vogt founded his then new startup, Cruise, which develops technology that turns traditional cars into ones capable of autonomous driving. The two discussed potentially working together on the company.

However, after about a month, the two parted ways after deciding that their visions and personalities didn’t match, according to the lawsuit. Though Guillory was listed on the startup’s application for Y Combinator, a prestigious accelerator program for startups, Vogt said he interviewed with the program’s partners alone after the two men had already decided against working together.

Vogt claims in the lawsuit that Guillory didn’t write any code or build any products for the startup.

Get Data Sheet, Fortune’s technology newsletter.

Guillory, who couldn’t be reached for comment, is allegedly asking for a stake in Cruise that he says he’s entitled to. According to Vogt’s complaint, he made his claim just five days after GM (GM) announced it would acquire Cruise last month.

The dispute creates a new complication for GM’s acquisition, which is intended to help the auto giant compete in what many believe will be a future filled with self-driving cars. Ownership battles, although fairly common, can delay major deals or, at minimum, add to the headaches involved.

“Defendant’s shocking and opportunistic claim is an attempt to thwart, interfere or otherwise delay GM’s merger acquisition of Cruise for his own pecuniary benefit,” the lawsuit says. “Knowing that this claim could interfere with the GM transaction, Mr. Guillory hopes to leverage his extortionist claims to achieve a pay-off from the Company.”

 

Sam Altman, Y Combinator’s president, said in a blog post that Vogt tried to settle the dispute by offering to pay an undisclosed amount to Guillory from his personal funds. But the offer was not accepted by last Friday’s deadline.

“Kyle has worked incredibly hard to settle this claim amicably, despite what I consider to be the obvious ridiculousness of it, and has done far more than I would have personally done under these circumstances,” Altman wrote.

The acquisition of Cruise is still expected to close by the end of June, according to Altman’s blog post.

About the Author
By Kia Kokalitcheva
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Tech


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.