TOP EXECUTIVES of Chinese AI startup Moonshot are in talks ahead of its planned Hong Kong listing to settle a legal dispute with a shareholder demanding compensation for their alleged wrongdoing, people familiar with the matter said.
Recurrent.ai, a developer of AI software, and some of its investors have accused Moonshot CEO Yang Zhilin and Chief Technology Officer Zhang Yutao of making false representations to Recurrent investors and enriching themselves at Recurrent’s expense, according to a March 11 letter Recurrent’s lawyers sent to Moonshot’s investors, which was seen by Reuters.
Mr. Yang and Zhang Yutao co-founded Recurrent.ai in 2016, before they established Moonshot in 2023, and continue to be directors of Recurrent’s holding company, according to corporate records. The settlement talks have not been previously reported.
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