Archer and Joby Aviation Stocks Drop Amid Legal Battle Over Alleged Trade Secret Theft
Shares of Archer Aviation (ACHR) and Joby Aviation (JOBY) fell sharply Thursday as a heated legal dispute over alleged corporate espionage rattled investor confidence in the air-taxi sector. Joby slid 5% while Archer tumbled 8%, underperforming broader market weakness.
The selloff followed Joby's lawsuit accusing Archer of gaining improper access to confidential company files through a former employee. Court documents allege the employee downloaded internal documents before resigning and joining Archer. Joby claims one of its partners was later approached by Archer with knowledge of private deal terms—an act described as 'planned and premeditated' corporate espionage.
Archer's legal team dismissed the allegations as meritless, telling CNBC the complaint identifies no specific trade secrets nor demonstrates misuse. The case's March 2026 hearing date suggests this conflict may weigh on both stocks for years.
