Wow... a lot of conjecture and unfounded accusations flying around here. (tcs)
I suggest holding on to your armchair and wait till a response is filed and then it is brought to court.
Nobody here really knows what the discussions and circumstances were leading up to this separation. Tern obviously feels they have a solid legal ground to stand on to launch an entirely new business venture... thats quite a risk not to have their ducks in a row.
Seems some of the parties involved are holding their cards close to the chest... if I were a gambling man, I'd be worried.

But of course I'm again assuming things.
Go ride your bike and get off the keyboard!!