Key facts
- Leo Group and Tomales Bay Capital told a Northern California federal court they had agreed in principle to settle.
- The lawsuit sought more than $2.5 billion over a failed investment in SpaceX.
- The judge issued a dismissal order on October 29, after the October 30 hearing was set.
- Settlement terms were not available and neither company commented to Caixin.
China's Leo Group and US private investment firm Tomales Bay Capital have agreed in principle to settle a lawsuit seeking more than $2.5 billion over a failed investment in SpaceX, Caixin reported on November 5, 2026.
The parties notified a federal court in Northern California of the agreement ahead of an October 30 hearing on Leo's motion to dismiss the case. The judge issued a dismissal order on October 29.
Settlement terms were not available. Neither company responded to Caixin's requests for comment.