Luminar Technologies filed an emergency court motion on January 5 2026 to serve former CEO Austin Russell with a subpoena and to recover company‑issued devices. The filing comes as the company continues its Chapter 11 proceedings, which began on December 15 2025 after a cumulative loss of $2.3 billion and a debt burden that left the firm unable to meet its obligations.
The motion notes that Luminar has already recovered six company computers but still lacks Russell’s company‑issued phone and a digital copy of his personal phone. Russell has declined to cooperate, citing privacy concerns, and has requested assurances that the company’s lawyers will not search personal data. Luminar’s counsel maintains that only documents directly related to the company’s business will be sought.
The dispute is part of a broader effort to secure assets and information as Luminar prepares to sell its core LiDAR business and its semiconductor subsidiary, Luminar Semiconductors Inc. (LSI). The LSI sale is slated for court approval by the end of January 2026, while bids for the LiDAR business are due by January 9 2026. The company’s Q3 2025 results—$18.7 million in revenue, a 21% year‑over‑year increase, but a GAAP net loss of $89.5 million—highlight the financial distress that prompted the bankruptcy filing.
The loss of a major contract with Volvo in November 2025, which had been the company’s largest customer, was a key driver of the liquidity crisis. Volvo’s cancellation of a five‑year supply agreement removed a significant revenue stream and forced Luminar to invest $52 million in expanded production capacity that was never fully utilized. The resulting cash burn and debt obligations accelerated the decision to file for Chapter 11 protection.
The emergency motion and the broader asset‑sale timeline underscore the urgency of the restructuring process. If the court grants the motion, Luminar will be able to recover critical devices and potentially obtain additional information that could influence the valuation of its remaining assets. The outcome will shape the pace of the bankruptcy proceedings and the eventual disposition of Luminar’s business units.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.