Lidar company Luminar has filed for Chapter 11 bankruptcy protection after layoffs, executive departures, and a legal fight with Volvo. The company plans to sell off its lidar business and semiconductor subsidiary. Founder Austin Russell resigned in May and launched a bid to buy Luminar outright.

During the bankruptcy process, Russell AI Labs plans to bid for what’s left of Luminar. The company faced layoffs, executive departures, defaulted loans, and an SEC investigation. Luminar was hit with an eviction lawsuit and lease cancellation. Volvo canceled a contract, leading to legal action from Luminar and the contract manufacturer.

Read more at Yahoo Finance: Lidar-maker Luminar files for bankruptcy