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Vincent Ip

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New Jersey newspaper The Record is reporting that Mission Motorcycles, maker of the soon-to-be-released Mission RS and Mission R electric motorcycles, has filed a lawsuit against one of the company’s co-founders, Vincent Ip.

In its lawsuit filed with the U.S. District Court in New Jersey, Mission Motorcycles asserts that Ip must relinquish stock in the EV startup, pursuant to a stock restriction agreement the Ip signed with fellow co-founders Mark Seeger and Andrew Ng.