LegalApr 13, 2026, 05:26 PM
Starfighters Space Sued by Former CEO for $26M+
AI Summary
Starfighters Space, Inc. is facing a lawsuit filed by its former CEO, President, and Executive Chairman, Richard "Rick" Svetkoff. The complaint, filed on April 9, 2026, in Florida, alleges breach of fiduciary duty, self-dealing, and mismanagement of assets against the company, its current CEO, and board members. Mr. Svetkoff is seeking damages exceeding $26 million and equitable relief, including the removal of certain directors. This legal action follows Svetkoff's voluntary resignation in February 2026 and subsequent removal from subsidiary officer and director roles by the company.
Key Highlights
- Former CEO Richard Svetkoff filed a lawsuit against Starfighters Space on April 9, 2026.
- The complaint names the company, current CEO Timothy Franta, and board members.
- Allegations include breach of fiduciary duty, self-dealing, and asset mismanagement.
- Svetkoff seeks damages exceeding $26,000,000 and equitable relief, including director removal.
- Svetkoff voluntarily resigned from his positions on February 19, 2026.