Camac Fund, L.P. v. Chen
- Docket:
- 2025-0181-PAF
- Court:
- Delaware Court of Chancery
Delaware Court of Chancery shareholder derivative action involving fiduciary-duty and related-party claims, not patent claims. Defendants include Chen et al.
Defendant
1 case as defendant.
I'll research this entity before writing.
Let me dig further on this specific case.
Profile: "Chen" (dossier entry)
Entity status — important caveat. The tracked record labeled "Chen" does not correspond to a corporate entity. The single case, Camac Fund, L.P. v. Chen, No. 2025-0181-PAF (Del. Ch.), is a stockholder derivative action in which the named defendant is Mo Chen, an individual — co-founder, former CEO, and Executive Chairman of CreateAI Holdings, Inc. (formerly TuSimple Holdings Inc.). No company named "Chen" appears in the case, and no patent infringement claims are involved. I could not verify any separate corporate entity by that name.
The affiliated operating company. CreateAI Holdings, Inc. is a Delaware corporation co-founded in 2015 by Mo Chen and Dr. Xiaodi Hou. It IPO'd on Nasdaq in April 2021 (TuSimple, TSP) raising over $1 billion, per a Delaware Chancery opinion. Its original business was autonomous trucking software and hardware; it announced a pivot toward AI-generated content (animation and video games) and changed its name from TuSimple to CreateAI in July 2025. Sina Corporation, the Chinese media group, is a significant early investor; Sina's Charles Chao is a co-defendant in the Camac action. Employee count, current revenue, and market capitalization are not verified here. CreateAI's public filings describe an ongoing CFIUS national security agreement, a related SEC investigation, a $6.0 million CMA penalty settlement (May 2024), and litigation against Bot Auto.
Litigation posture. The dossier reflects 0 plaintiff cases and 1 defendant case. That profile is inconsistent with a patent plaintiff/NPE and consistent with an individual defendant in a fiduciary-duty, governance dispute — not a patent case at all. Venue is the Delaware Court of Chancery, an equity court, not a patent venue such as the Eastern District of Texas.
Case context. In Camac Fund, L.P. v. Chen, filed March 2025, stockholder Camac Fund sued Mo Chen, Cheng Lu, Jianan Hao, James Lu, Albert Schultz, Zhen Tao, Charles Chao, and Sina Corporation, with CreateAI as nominal defendant, alleging breach of fiduciary duty and corporate waste through the AIGC business pivot, related-party transactions, and misleading disclosures. Camac's April 11, 2025 motions to expedite and for a TRO limiting overseas cash transfers were denied April 28, 2025. Separately, White Marble LLC v. Mo Chen (Del. Ch.) concerned the November 2022 voting agreement; the court upheld the agreement and entered partial final judgment for Chen in November 2025.
Delaware Court of Chancery shareholder derivative action involving fiduciary-duty and related-party claims, not patent claims. Defendants include Chen et al.