Luminar founder Austin Russell agrees to accept subpoena

Austin Russell, the founder and former CEO of Luminar, has agreed to accept an electronic subpoena—a court order to produce information—for information on his phone related to the company. The agreement, disclosed in a court filing on Tuesday, resolves a standoff in the company’s ongoing bankruptcy proceedings. Under the terms of the filing, Russell has seven days to file a motion to quash the subpoena, or object to it. If he does not object or file a motion, he has 14 days to comply with the subpoena.

The agreement comes two weeks after lawyers accused Russell of avoiding the subpoena at his Florida residence. The legal dispute is part of the broader fallout for Luminar, which filed for Chapter 11 bankruptcy protection—the US legal process for corporate reorganization—in December. The company previously counted Volvo and Mercedes-Benz as customers, but has faced increased competition.

Luminar is currently working to sell its assets. Last week, the company reached a deal with Quantum Computing Inc. to sell its assets. The proposed transactions include:

• $22 million for the sale of its lidar—light detection and ranging technology—assets.
• $110 million for the sale of its semiconductor division.

Luminar has scheduled an auction in an attempt to solicit bids that might beat Quantum Computing Inc.’s offer.

Russell, whose abrupt resignation as CEO due to an ethics inquiry occurred prior to the bankruptcy, remains interested in bidding for the lidar assets. He had previously tried to buy Luminar in October, before the company filed for bankruptcy. Representatives for Russell AI Labs, his new venture, stated that he remains interested in submitting a bid for Luminar’s lidar assets, though a formal offer has not yet been submitted.

Why it matters

This legal agreement resolves a standoff regarding a subpoena in Luminar’s ongoing Chapter 11 bankruptcy proceedings, potentially clearing the way for the company to move forward with asset sales.