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Starfighters Space, Inc. ( (FJET) ) just unveiled an update.
On April 9, 2026, former CEO Richard “Rick” Svetkoff filed a lawsuit in Florida state court against Starfighters Space, Inc., its current CEO Timothy Franta, several board members and Flagship Bank, alleging breach of fiduciary duty, deceptive and unfair trade practices and improper control over corporate records and assets. The complaint seeks more than $26 million in damages, various forms of equitable and injunctive relief and the transfer of certain corporate assets, including a key domain name, reflecting a deep governance and control dispute following Svetkoff’s February 19, 2026 resignation and subsequent removals from multiple subsidiary entities through early April.
Starfighters Space denies all allegations and says an internal investigation found Svetkoff opened an unauthorized offshore bank account in the company’s name and moved about $1 million of subsidiary funds, later returned, and also identified nearly $1.9 million in allegedly unauthorized transfers to Svetkoff and a company owned by his wife. The company is preparing its legal response, evaluating potential counterclaims for conversion, misappropriation of corporate assets and breach of fiduciary duty and considering referrals to authorities, while warning that an unfavorable outcome in the litigation could materially affect its business, financial condition or operating results.
More about Starfighters Space, Inc.
Starfighters Space, Inc. operates in the space and aerospace sector through wholly owned subsidiaries including Starfighters International, Inc. and Starfighters, Inc., with banking relationships involving Flagship Bank. The company’s leadership recently transitioned, with former CEO Richard “Rick” Svetkoff resigning from all executive and board roles on February 19, 2026, and subsequently being removed from related subsidiary positions in March and April 2026.
Average Trading Volume: 1,227,435
Current Market Cap: $213.1M
For a thorough assessment of FJET stock, go to TipRanks’ Stock Analysis page.