There's not enough known yet. Are they suing them simply because they left and started their own company? That probably won't go anywhere.

Or are they suing them because they are using ideas and/or design research they developed while at Specialized? Specialized seems to be saying that the Volagi frame was ripped from a Specialized prototype, although they're assertion is vague at this point. If part of Volagi's R&D was done while they were employed at Specialized, they're in trouble.