Investor Says Chinese Firms Took $476M EV Venture Stake

By Jared Foretek · April 9, 2026, 5:34 PM EDT

A British Virgin Islands company accused a Chinese state-owned enterprise of exploiting COVID-19 travel bans to seize its 11% stake in an electric vehicle manufacturer, wiping out the investor's equity without...

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Case Information

Case Title

Encore Wealth Investments Limited v. Jiangsu Saleen Automotive Technology Co., Ltd., et al.

Case Number

1:26-cv-00945

Court

Virginia Eastern

Nature of Suit

Defend Trade Secrets Act (of 2016)

Date Filed

April 07, 2026