PHOTO CAPTION: Mission Motorcycles electric motorcycle, which Vincent Ip helped co-found.

Mission Motorcycles Sues Co-Founder Ip to Sell Shares

Vincent Ip was terminated in November and now faces lawsuit from the company he helped co-found.

Published: 30-Dec-2013

A Fort Lee man who helped create a groundbreaking electric motorcycle that Time magazine called one of the top inventions of 2013 is facing a legal battle over his share of the company that invented the two-wheeler.

Vincent Ip, one of three co-founders of Mission Motorcycles Inc. of San Francisco, is fighting to keep his shares in the wake of his termination in November after allegedly making "threats of violence" against other company executives, according to a lawsuit filed by the company in U.S. District Court in New Jersey.

The suit claims that Ip and co-founders Mark Seeger, the company's CEO and president, and Andrew Ng, the chief financial officer, signed a stock restriction agreement in September that stated that if any of the three left the company, it had the right to buy his shares.


Teaser image of upcoming Mission Motors superbike.

At one point, San Francisco-based Mission Motors abandoned its plans to roll out an electric superbike. Now it appears they've changed their minds.

Mission Motors R prototype.

Mission Motors production motorcycle will have top speed of 150 mph and do zero-to-60 in 3 seconds.

Mission Motors RS prototype.

Pricing on both R and RS models is after $2,500 US federal tax credit.


blog comments powered by Disqus