Rival air taxi startups Wisk and Archer settle their trade secret theft lawsuit
Wisk and Archer, two leading air taxi startups, have settled their legal dispute over allegations of stolen trade secrets, avoiding a jury trial that would have cast a negative light on the emerging aviation technology sector.
Wisk, a wholly owned subsidiary of Boeing, sued Archer in 2021 for allegedly stealing its trade secrets and infringing on its patents. A judge sent the lawsuit to trial in June, but now, the two sides have settled the dispute.
Wisk said it will become the exclusive provider of autonomous flying technology to Archer, should Archer decide to pursue a self-flying aircraft. Boeing will invest in the private investment in public equity (PIPE) financing that Archer released today as part of its second quarter earnings...