aibioWeird Science demands $10 million to end Delaware Chancery suit and other claims against Lunai
Tickers LNAI
Lunai's 10-K says the Oct 7 demand covers all pending litigation. The Chancery case alleges breach of a 2018 investor rights agreement, and mediation has not been scheduled.
Key facts
- Company
- Lunai Bioworks Inc. (NASDAQ: LNAI)
- News type
- Legal
- Primary source
- Lunai Bioworks 10-K for the fiscal year ended June 30, 2026 (SEC EDGAR)
Lunai Bioworks (LNAI) disclosed in its 10-K filed Oct 13 that counsel for Weird Science LLC and William Anderson Wittekind made a $10 million settlement demand on October 7, 2026 to resolve all pending litigation. One of those cases is a Verified Complaint filed June 7, 2023 in the Delaware Court of Chancery. The plaintiffs are Weird Science, Wittekind, the William Anderson Wittekind 2020 Annuity Trust, the William Anderson Wittekind 2021 Annuity Trust, the Dybul 2020 Angel Annuity Trust and the Ty Mabry 2021 Annuity Trust. Lunai is the named defendant. The 10-K gives no case number and does not name the other defendants.
The details
Plaintiffs allege Lunai breached the February 16, 2018 Investor Rights Agreement by not giving 30 days' notice before filing S-3 registration statements on July 13, 2020 and February 11, 2022. A Verified First Amended Complaint filed December 4, 2023 asserts claims against the company and others for breaches of the agreement, fraud, tortious interference and other torts.
On November 15, 2024 the court dismissed all claims brought by Wittekind and the trusts. On February 26, 2025 it denied Lunai's motion to dismiss Weird Science's breach of contract claims over the 2020 and 2022 registration statements, and dismissed the fraudulent inducement and declaratory judgment claims.
Lunai denies the allegations and intends to defend vigorously. The parties have agreed to schedule a mediation, which has not yet been set.